After losing an epic battle with Mark Zuckerberg over ownership of Facebook and being shunned in Silicon Valley, Cameron and Tyler Winklevoss are back—this time as budding bitcoin billionaires at the centre of the future of money, the creative economy and quite possibly a new operating model for Big Tech itself
Winklevoss twins
Image: Michael Prince and Illustration: Yoshi Sodeoka for Forbes
Identical twin billionaires Cameron and Tyler Winklevoss saunter into their empty 17th-floor offices in Manhattan’s Flatiron district wearing designer high-tops, black jeans and matching sweatshirts made by the high-end streetwear brand Heron Preston. The sweatshirts—Cameron’s is red, Tyler’s white—are emblazoned with a Nasa logo, which the twins picked because it echoes the space-exploration theme behind the brand of their seven-year-old cryptocurrency trading operation, Gemini. In addition to being the Zodiac sign symbolised by twins, it was the name of Nasa’s second space mission—the one just prior to Apollo 11, which put the first man on the moon.
“We actually call our employees astronauts,” Cameron says. “We’re all astronauts building on the frontier of money and the frontier of art and the frontier of finance.” Accustomed to finishing his brother’s thoughts, Tyler chimes in: “We feel like we’re on a spaceship, exploring a new frontier.”
On this sunny March day, the spaceship is hitting warp speed. The price of Bitcoin is about to reach an all-time high of $58,000 (it sold for $8 in 2012 when the brothers began investing some $10 million in the digital currency), rocketing their combined net worth to $6 billion. Their latest investment, fast-growing Bitcoin lending giant BlockFi, just announced it has raised $350 million, valuing the company at $3 billion.
And the 39-year-old brothers’ hottest venture, digital art auction platform Nifty Gateway, is basking in the glow of a sale at Christie’s, where the gavel is about to fall on the 255-year-old auction house’s first-ever sale of a non-fungible token (NFT) artwork, a one-of-a-kind computer file tracked on a digital ledger known as a blockchain. Nifty Gateway put the artist, Mike Winkelmann, who goes by Beeple, on the map through a series of “drops” starting last year. Before the day ends, Gemini’s custodial business, which houses digital assets securely, will receive a $69 million cryptocurrency payment for Beeple on behalf of Christie’s, making his “Everydays: The First 5,000 Days” the third-most-expensive work sold by a living artist, after Jeff Koons and David Hockney.
(This story appears in the 07 May, 2021 issue of Forbes India. To visit our Archives, click here.)