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Serena Williams was bought a $3m engagement ring by husband Alexis Ohanian from $50M crypto windfall

Alexis Ohanian, tech entrepreneur and co-founder of Reddit, recently revealed that a portion of his $50 million windfall from an early bet on cryptocurrencies went towards buying a $3 million, 17-carat engagement ring for his wife, tennis legend Serena Williams. Ohanian, 39, and Williams, who won a record 23 major singles titles before retiring last year, married in 2017.

The tech entrepreneur’s cryptocurrency investment was in the cryptocurrency exchange Coinbase and in ether, a leading cryptocurrency token that ranks just behind bitcoin in popularity. Ohanian had invested $15,000 to buy 50,000 ether in 2014, and as of today, a single ether token is worth about $1,651, meaning his original stake would be worth nearly $83 million.

The profits from Coinbase went towards launching his venture firm 776, which focuses on blockchain and other tech-centric investments. The firm has more than $750 million in assets under management, according to its website.

In a humorous anecdote, Ohanian recounted his first date with Williams, which nearly went off the rails after the superstar athlete tried to access Reddit. At the time, the social media platform didn’t have a mobile app, and when Williams couldn’t find it in the app store, Ohanian said he was “sweating” as he tried to explain that it didn’t exist. Williams jokingly concluded that “it mustn’t be real”.

As of 2019, Forbes estimated Ohanian’s net worth to be $70 million, while Williams’ was projected to be $260 million last August. Clearly, the couple’s combined wealth has been significantly bolstered by Ohanian’s early investment in cryptocurrencies.

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