Tether Secondary Market Valuation Jumps to $350B–$375B, CFO Stake Implies Net Worth Above Warren Buffett

Stablecoin issuer Tether has changed hands in secondary market transactions at valuations between $350 billion and $375 billion, compared with about $50 billion last year, Forbes reports. On a $350 billion valuation, Chief Financial Officer Giancarlo Devasini's 44–45% stake would translate into an estimated $156 billion net worth, putting him ahead of Warren Buffett by that metric. Tether generated around $10 billion in profit last year, largely from returns on USDT reserves, with profit margins as high as 99%, and has deployed capital into more than 120 companies across artificial intelligence, data and energy. The company has also rolled out a U.S.-compliant stablecoin called USAT while contending with competition from Circle and mounting regulatory scrutiny.