Cameron and Tyler Winklevoss are famous twins in the technology market for their complex relationship with the creation of Facebook. The two accuse Mark Zuckerberg, the company’s founder and CEO, of having robbed them of the idea of social networking while they were still students at Harvard University.
Even though today the Winklevoss twins can not enjoy the success of Facebook, this has not stopped them from getting rich. The American press has reported on Monday, 4, that the two have become billionaires by investing in bitcoin.
In 2013, the Winklevoss brothers received $ 65 million from Mark Zuckerberg after the Facebook CEO was convicted of stealing the idea of social networking. Of that money, the pair invested $ 11 million in the virtual currency, which at the time was worth just over $ 100.
The two claimed to own 1% of the entire dollar value of the crypto-currency on the market at the time. With the growth of bitcoin, which recently came to be worth more than $ 10,000, the Winklevoss now own an amount of more than $ 1 billion.
In four years since the pair invested in the digital currency, the value of bitcoin has grown more than 10,000%, which explains the enrichment. According to information from The Telegraph, the twins have not even sold a bitcoin since investing $ 11 million in 2013.
Few publicly accessible bitcoin virtual wallets have more than $ 1 billion in crypto-coins. In addition to the Winklevoss, another billionaire in this business was the mysterious creator of bitcoin, known by the pseudonym Satoshi Nakamoto.
The story of the twins with Facebook
It all started in 2002. Cameron and Tyler Winklevoss came up with the idea of creating a social network for Harvard students called HarvardConnection. The programmer Sanjay Mavinkurve began to develop the website and then passed the work to Victor Gao.
For personal reasons, Gao also had to leave the project in 2003 and appointed a classmate to continue: Mark Zuckerberg. According to the Winklevoss brothers, Zuckerberg agreed to complete the development of the social network which already had several front-end pages, registration system, database and ready-made back-end codes.
Between November 2003 and January 2004, however, Zuckerberg made no progress with the HarvardConnection and avoided several meetings marked with the Winklevoss brothers. In February 2004, however, Zuckerberg put on the air a site called thefacebook.com, a social network for Harvard students identical to the idea of the twins.
Of course, HarvardConnection fell into oblivion, since it was released after thefacebook.com. This, in turn, has grown to become Facebook that today has more than 2 billion active users worldwide and is a company valued at more than $ 519 billion.
The legal dispute between the Winklevoss and Zuckerberg began in 2004 on the charge of plagiarism and only ended in 2011. The founder of Facebook paid $ 65 million to the twins. Part of this story is told in the film “The Social Network”, 2010, in which the Winklevoss are played by actor Armie Hammer; and in the book “Billionaires by Chance”, by Ben Mezrich.