Who is Giancarlo Devasini?
Giancarlo Devasini is the chairman and co-owner of Tether, the company that issues the USDT stablecoin, and a co-owner of the Bitfinex exchange. Forbes’ real-time list valued him at $89.3 billion on 20 October 2026, 22nd in the world, and he is the richest person in Italy 12.
How did Giancarlo Devasini make his money?
Through Tether. Forbes estimates he owns about 45% of the company and values the stake using multiples from comparable listed companies, because Tether is private. Tether’s reserves are mostly US Treasuries, and the income they generate stays with the company. We-Wealth, citing Forbes, reports a Tether net profit of $1.04 billion in the first quarter of 2026 123.
Early life and education
Forbes lists Devasini as Italian, born on 30 April 1964. He qualified as a doctor of medicine at Milan University in 1990. Euronews says he studied medicine and moved toward plastic surgery before leaving the operating room for IT, e-commerce and digital currencies 13.
From Bitfinex to Tether
Devasini joined the project that became Tether in 2014, after the Bitfinex exchange, and Tether chief executive Paolo Ardoino says he met Devasini while working on Bitfinex’s software 3. Tether Investments holds more than 10% of the football club Juventus and agreed in March 2025 to a tender offer for the agribusiness Adecoagro 1. Read Giancarlo Devasini’s companies.
Regulatory record
In February 2021 Bitfinex and Tether settled with the New York Attorney General for $18.5 million. In October 2021 Tether paid $41 million to settle US Commodity Futures Trading Commission allegations over its reserve statements, neither admitting nor denying them, and Bitfinex paid $1.5 million 45. Bloomberg reported that the US Justice Department opened a probe of Tether in July 2021, naming the company and not individuals and without reporting charges 6. The sources reviewed report no charges against Devasini.
Family
The sources reviewed do not report details about his spouse or children. See Giancarlo Devasini’s family.
Giancarlo Devasini net worth
Forbes put him at $89.3 billion in October 2026, about ₹8.4 lakh crore at ₹94 to the dollar, up from $22.4 billion in 2025 and $9.2 billion in 2024. He is ahead of Giovanni Ferrero among Italians 13. See Giancarlo Devasini net worth and our ranking of the top 50 richest people in the world.
Frequently asked questions
Who is Giancarlo Devasini?
The chairman and co-owner of Tether, the issuer of the USDT stablecoin, and a co-owner of Bitfinex.
What is Giancarlo Devasini's net worth?
$89.3 billion on Forbes’ real-time list on 20 October 2026, 22nd in the world.
Is Giancarlo Devasini the richest person in Italy?
Yes. Forbes and Euronews report that he is ahead of Giovanni Ferrero.