by Rushali 
Today mostly everyone is pushing to get a degree or in most cases to get an MBA degree but, when we hear about dropouts and entrepreneurs the only thing that comes to our mind is that they are just bigshots and they got lucky. So, let’s turn the gears of our ride on the motivational bit for now. I don’t consider anyone lucky or unlucky it is that they worked for something very hard, something that they believed in wholeheartedly and gave their every bit in achieving those goals.
Most of them are dropouts or are working in a different field than what they have got a degree in, the only common link that I find among all of them is that they are all financially literate. Now, you may wonder… What do financially literate means and where do I get financially literate to get big like the bigshots? Right? Well, it is very sad to see the educational system not giving you the specific knowledge and most of the educational institutions never tell you about this topic “Financial literacy”
So, let’s look at the proper definition provided by Investopedia “Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing. Financial literacy is the foundation of your relationship with money, and it is a life-long journey of learning. The earlier you start, the better off you will be because education is the key to success when it comes to money.”
So, that’s what Investopedia has to say about financial literacy. Now even you should have a clear and concise outlook that why I just said that is the only thing that is common among all the crypto billionaires and the bigshots we talked about.
Today, we will discuss one such personality who is a dropout himself but, also the world’s 40th richest man according to Forbes and one of the wealthiest when considered the crypto space.
We will be talking about Jed McCaleb, Let’s get an in-depth look at the financial decisions, life choices, and the NetWorth OfCourse that made him what he is today.
Introduction
Jed McCaleb is an American entrepreneur and programmer, He was born in 1975 in Fayetteville, Arkansas, and decided to drop out from his formal education at the University of California located in Berkeley.
To give a brief synopsis of why we are discussing his life because he is the founder of different blockchain firms such as Ripple, Stellar, and Mt. Gox. And these are just a few of his achievements.
So, where were we?
In 2000, Jed laid the foundation of Edonkey and released an application named Edonkey2000 which became the world’s largest of that time peer to peer file-sharing network. The peak reached over 4 million concurrent users and to put it into perspective, remember it was still 2000.
In 2007, he got the idea of creating a trading card website to trade cards virtually but, repurposed the website named Mt.Gox.com as the world’s first bitcoin to fiat exchange in 2010 also at its peak it was handing almost 80% of the bitcoin trading that was happening in the whole world.
In 2012, He co-founded ripple as according to his idea the financial infrastructure of the whole banking system of the planet was not able enough. So, by the extensive use of blockchain technology, he was providing a much more secure, efficient, and faster way of money exchange all around the globe.
After giving his two years he eventually moved on from ripple to launch Steller in 2014 an open-source project aiming to not only build a faster and cheaper way to transfer fiat and cryptocurrencies but, also increasing the participation in the economy by everyone. He launched his cryptocurrency which powers the Stellar network “XLM”.
Jed also donated some of his “XRP” holdings to an organization named MIRI and became one of the advisory board members.
Jeb McCaleb Net Worth
After all this, the New York Times listed his name in the top 10 most influential people of the blockchain revolution in 2018. The net worth of McCaleb according to few sources is 200 crore US dollars and the best thing about his NetWorth is that most of his net worth comes from the cryptocurrency that he is holding which is exponentially increasing with every passing day. This is what financial literacy does to you. So, take a pledge to educate yourself before investing.
