Coinbase CEO Brian Armstrong, Ripple Labs CEO Brad Garlinghouse, and Andreessen Horowitz (a16z) executives Marc Andreessen and Ben Horowitz reportedly earned billions of dollars following Donald Trump’s victory in the U.S. presidential election, according to CoinDesk.

The publication estimates that Armstrong sold Coinbase shares worth approximately $437 million in the weeks following the election results, $129 million higher than their pre-election valuation. The exchange’s valuation rose by $21 billion, with the CEO’s stake increasing by more than $2 billion.

Between December 2023 and June 2024, Coinbase allocated approximately $74 million to support the political action committee Fairshake, which advocates for pro-crypto presidential candidates.

Armstrong announced plans to sell shares nearly three months before the election, with sales set to begin upon reaching specific price thresholds that were not expected to happen so quickly. As of now, COIN shares are trading at around $279, per TradingView, compared to $186 on November 4.

For the small handful of folks are looking at my latest 10b51 plan, some context: I will diversify a bit over time to make investments in moonshots, but still retain the vast majority of my Coinbase holdings. For some reason in the disclosures it doesn't show the price targets,…
— Brian Armstrong (@brian_armstrong) November 2, 2024

Ripple committed $73 million to the campaign. Post-election, Brad Garlinghouse’s XRP holdings tripled in value as the token’s price surged from $0.5 to $2.32, securing third place in market capitalization.

Ripple Labs’ private valuation remains uncertain, with the most recent estimate around $11 billion. CoinDesk suggests the elections likely boosted Garlinghouse’s stake in the company and his personal assets.

Andreessen Horowitz invested $70 million, including a substantial reserve for the 2026 election cycle. While the profits of Marc Andreessen and Ben Horowitz from private company investments are not publicly disclosed, the publication speculates their extensive crypto portfolio likely generated returns far exceeding their contributions.

Notably, Gemini exchange founders the Winklevoss twins also made significant donations to Trump’s campaign, contributing $2 million in Bitcoin. Part of the funds were returned due to exceeding the allowable donation limit.

Analysts suggest that political contributions, including those by Fairshake, may increase the likelihood of passing cryptocurrency and stablecoin legislation.