Former Oxford student becomes Britain’s youngest bitcoin billionaire aged just 34 after co-founding cryptocurrency trading platform
- Ben Delo, who founded BitMex in 2014, is Britain’s youngest self-made billionaire
- The Oxford graduate lives frugally in Hong Kong with his wife Pan Pan Wong
- He has amassed a fortune from the enterprise which is worth around $3.6billion
Ben Delo (pictured), who founded BitMex in 2014, has become Britain’s youngest self-made billionaire
The UK’s youngest bitcoin billionaire has been revealed as a 34-year-old Oxford graduate who lives in Hong Kong.
Ben Delo, who founded BitMex in 2014, has also become Britain’s youngest self-made billionaire.
Said to live frugally with his wife Pan Pan Wong, he said he had worked 18-hour days to build his start-up into a thriving trading platform.
Delo and his co-founders have amassed a huge fortune from the enterprise which is worth around $3.6billion, The Sunday Times reports.
He studied maths and computer science at Worcester College, Oxford, graduating in 2005 with a first-class degree.
After working for IBM as a software engineer, he went on to be employed in the City and then moved to Hong Kong to work for JP Morgan.
BitMex was founded along with U.S. colleague Samuel Reed, a computer programmer.
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He told the newspaper: ‘I have had my nose down in a start-up for the past four years. I was doing 18-hour days at one point.’
He said the company had so little money at the start that he rented out spare bedrooms on Airbnb and carved a small space out of his living room to make another one.
Delo is said to emulate U.S. tycoon Warren Buffett in his frugal lifestyle in Hong Kong.
Delo and his co-founders have amassed a huge fortune from the enterprise which is worth around $3.6billion
The bitcoin billionaire and his wife reportedly use vouchers to buy food at McDonalds and owns only three pairs of shoes.
He also intends to follow the lead of Buffett and Bill Gates to give most of his wealth to philanthropic causes.
Bitcoin saw its value go through the roof last year – beating the 17th Century dutch Tulip Mania, the South Sea bubble and the dot com bubble of the early 2000s to become the biggest economic bubble in history.
But last month Bitcoin prices plummeted by 12 per cent – leaving it at a two-month low – after cryptocurrency exchange Coinrail revealed it had suffered a hack.
Digital coins lost more than $42 billion (£31 million) in value worldwide, sparking fresh concerns about the security of virtual currency exchanges, like Coinrail.
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