Biography
Giancarlo Devasini is the chairman, and likely the biggest shareholder, of Tether, the largest issuer of crypto stablecoins. More than 180 billion Tether tokens have been minted. Buoyed by high rates on U.S. Treasurys, which make up most of Tether's reserves, the company reported more than $10 billion in profit in 2025. Devasini owns an estimated 45% stake in Tether, which Forbes values by applying the average price-to-earnings multiples of a group of publicly traded mid-tier banks and asset managers.