Ripple’s Chief Technology Officer (CTO), David Schwartz, has shared some intriguing details about his personal journey at Ripple and what factors could potentially lead him to leave the cryptocurrency payments company.
Schwartz revealed these insights in response to a tweet from MetaMan, a prominent figure in the XRP community, who clarified that Schwartz’s loyalty lies with Ripple as a company, rather than specifically with XRP and its underlying blockchain, XRP Ledger (XRPL).
In his response, Schwartz disclosed how he initially joined Ripple during its early days. He explained that Chris Larsen, Ripple’s chairman and co-founder, invited him to join the company’s board because of his loyalty. Schwartz assured Larsen that he would remain loyal as long as he believed Larsen was the most suitable person to lead Ripple’s operations. However, Schwartz also made it clear that his loyalty was to Ripple as a whole, not solely to Larsen.
While praising Larsen for his rationality, Schwartz acknowledged that he could be mistaken if he failed to convince Larsen of his point of view.
Furthermore, Schwartz revealed that he owns a significant amount of Ripple stock. He had previously mentioned that he chose to hold Ripple stock instead of XRP when given the opportunity. However, Schwartz emphasized that owning Ripple stock does not obligate him to continue working at the company. He stated that if working at Ripple were no longer enjoyable, he would consider leaving.
Despite his significant holdings in Ripple stock, Schwartz recently disclosed that he is not yet a billionaire. He humorously noted that he still needs to captain his yacht and manage his mansion without the assistance of a servant.
It is worth mentioning that Schwartz had previously commented on his decision to hold Ripple stock, which he now considers a significant mistake. He mentioned that other executives at the company, such as Arthur Britto, Chris Larsen, and Jed McCaleb, received a combined total of 20 billion XRP. In contrast, when Schwartz joined Ripple’s board, he opted for a 2% stake in the company instead of 500 million XRP.
In conclusion, Schwartz’s loyalty lies with Ripple as a company, and he values the rationality of its co-founder, Chris Larsen. However, he would consider leaving if working at Ripple ceased to be enjoyable. Despite his substantial Ripple stock holdings, Schwartz is not yet a billionaire and continues to navigate his personal life without the luxuries of a servant.
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