After a series of bad investments faded much of his wealth, his hedge fund Goliath from Goldman Sachs and Fortress Group has been revived as a crypto guru. Novogratz is the author and CEO of Galaxy Investment Mates, specializing in investing and developing cryptocurrency-related services.
In 2013 he reportedly tête-à-tête invested $7 million in bitcoin, subsequently using those means as Galaxy’s seed backing. Rested on exposures from September 2020, Forbes estimates Galaxy’s crypto means are worth about $621 million, a 300 % jump in four months. Since Novogratz owns 77% of the company, which makes his stake worth$ 478 million, this does not include cryptocurrency he might enjoy privately, which he declined to expose.