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June 25, 2024
arthur hayes net worth

Arthur Hayes Net Worth

Arthur Hayes Net Worth - A Breakdown

What is Arthur Hayes’s net worth?

As of 2023, Arthur Hayes’s estimated net worth is over $500 million. This spectacular figure is considered to mainly be a result of his success in the cryptocurrency industry and his role as CEO and co-founder of BitMEX.

There is a lot of debate regarding the amount of money Hayes actually makes from his work at BitMEX, as the company is not public. However, there are some estimates suggesting that he might be earning around $40 million annually from BitMEX trading fees alone.

It’s important to point out that Arthur Hayes’ net worth has also been impacted by his recent legal troubles. He was indicted on charges related to money laundering and violating banking laws last year which led to him eventually stepping down from his role as a CEO to focus on fighting the allegations.

Notwithstanding these challenges, there’s no question that Arthur Hayes has had an impressive career so far in the world of finance and tech, having his net worth speaks for that.

Where does Arthur Hayes’s fortune come from?

Throughout the years Hayes has earned several degrees in economics and finance from the best universities prior to starting his career at Deutsche Bank as an equities trader. He then moved to Hong Kong and worked for Citibank on their ETF market-making desk.

It wasn’t until 2013 that Hayes entered the crypto industry by founding BitMEX together with two other partners. Not long after the exchange platform quickly gained popularity among traders due to its high leverage options.

BitMEX’s business model is quite simple – charge crypto enthusiasts a fee for trading on the platform. With billions of dollars traded on BitMEX on a daily basis, it’s more than clear that the exchange is generating a lot of wealth for Hayes.

As BitMEX became one of the largest players in crypto trading, it’s no surprise that Hayes was able to amass a significant fortune along with his co-founders. 

Here are a few other sources of income that Arthur Hayes enjoys:

  1. Crypto: The exponential growth of the cryptocurrency market since 2013 would have propelled the value of his crypto holdings.
  2. Public Wallet: Hayes’ public wallet containing his DeFi investments like GMX and Lido shows over $11m in on-chain assets.
  3. Private Investments: Other private investments, in startups, established companies, or real estate, contribute to his wealth.

Early Life & Career

Arthur Hayes was born to middle-class parents in 1985 in Detroit, Michigan but grew up in Buffalo, New York. Later on he attended Nichols School followed by the Wharton School of Business at the University of Pennsylvania where he earned a Bachelor’s degree in economics and finance.

After graduating with a degree in economics from the Wharton School of Business, Hayes lived in Hong Kong as an equity derivatives trader for five years. Then he became the market-maker for Deutsche Bank and Citibank’s Exchange Traded Funds (ETF) businesses. He also has extensive experience trading equity index futures, forwards, and swaps as well as non-deliverable FX forwards.

After leaving Citi in 2013, Hayes began trading and investing in Bitcoin. He primarily takes part in arbitrage between different spot exchanges and between Bitcoin derivatives. After trading Bitcoin derivatives on different exchange platforms for some period, he realized that there is space for a Bitcoin derivative exchange modeled after existing exchanges where fiat currency derivatives are traded.

Together with two other gentlemen, Arthur founded BitMEX – Bitcoin Mercantile Exchange. In January 2014, BitMEX – Bitcoin Mercantile Exchange was formed. BitMEX is a P2P leveraged financial products trading exchange platform. BitMEX, through the use of Bitcoin as collateral, allows anyone anywhere at any time to trade.

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