Dadvan Yousuf

Dadvan Yousuf
Yousuf Portrait (2021)
Dadvan Yousuf (2021)
Born (2000-04-09) April 9, 2000 (age 24)
Zakho, Kurdistan, Iraq
Occupation(s)Entrepreneur, Bitcoin investor
Years active2011–present
Known forBitcoin activities, Youngest millionaire and billionaire in Switzerland, First Iraqi and Kurd to summit Mount Everest

Dadvan Yousuf (born April 9, 2000) is an Iraqi cryptocurrency investor and businessman whose early bitcoin investments made him the youngest self-made billionaire in Switzerland.[1] In November 2021, Yousuf was included in the Forbes 30 Under 30 list.[2] Yousuf and his companies have been the subject of a number of investigations into financial impropriety.[3][4]

Early life

Yousuf was born in Zakho, Iraqi Kurdistan on April 9, 2000.[5] His father was part of the Peshmerga and fled the country to Switzerland before Yousuf was born.[6][7] Three years later his mother left the country, together with her three sons.[8] They arrived in Neuenburg, Switzerland, in 2003 where his father had relocated.[9] In 2004, the family was granted refugee status and moved to Ipsach.[10] Yousuf has five younger siblings who were born in Switzerland.[11] In his early years, he showed a interest in the field of finance, particularly on Bitcoin and international money transfers.[12]

Career

At the age of 11, Yousuf sold some of his toys to acquire funds to invest in Bitcoin.[13] With this initial investment, he purchased 10 Bitcoins at a price of €15 and continued to trade in the cryptocurrency.[14][6] In 2012, he acquired 1000 Bitcoins at a rate of €11,126.[15] In 2016, Yousuf invested in Ethereum, buying 16,000 units at a total cost of €134,000.[16] Yousuf became a multi-millionaire through his cryptocurrency trades,[5] and is considered the youngest Swiss self-made millionaire.[17][18]

In 2017 he started an apprenticeship at the Eidgenössische Hochschulinstitut für Berufsbildung in Zollikofen.[19] He finished his apprenticeship with a real estate company in Bern.[20] Around the same time, Yousuf claims, he developed a software for automated trades in cryptocurrencies, based on an algorithm analysing data and predicting fluctuations in the future.[13] The algorithm evaluates data stemming from technical analysis, social media, macroeconomics and public statements about cryptocurrencies.[21] Yousuf founded the Dohrnii Foundation to oversee the development of his cryptocurrency software and tokens in early 2021.[22]

Yousuf acquired the majority of Crowdlitoken,[23] a Liechtenstein startup focused on enabling real estate investments through digital shares in the form of tokens, in late 2021.[24] Following this acquisition, he became the Chief Executive Officer and joined the company's board of directors.[25] Under Yousuf's leadership as CEO, Crowdlitoken acquired a commercial property in Heimberg, Switzerland, valued at approximately CHF 5.65 million,[26] with an annual rental income of around CHF 285,000.[27] The company's portfolio doubled under Yousuf's leadership as CEO.[28]

In February 2022, several critical press articles scrutinized Yousuf's professional activities and credentials, alleging irregularities in transactions.[29] Subsequently, Yousuf filed a defamation complaint against two journalists from SRF Investigativ, a Swiss media outlet, in March 2022.[30] An article published by Weltwoche claimed that SRF journalists used questionable methods in their investigation of Yousuf, including allegations that one journalist posed as a neighbor to gather information from Yousuf's family.[31]

FC Schaffhausen received sponsorship at the Wefox-Arena from Yousuf in early 2022.[32] He published his autobiography on October 24, 2022.[33][34] In December of the same year, Yousuf was featured in the ARD documentary titled 'Money Maker', which explored his journey from a refugee child in Kurdistan to becoming a multimillionaire through cryptocurrency investments in Switzerland.[35][36]

Yousuf's involvements in cryptocurrency have drawn the attention of the Swiss Financial Market Supervisory Authority.[37] In May 2022, the Dohrnii Foundation was investigated for engaging in various regulated activities, including acting as a securities firm, without obtaining the required FINMA authorization.[38] He resigned as CEO in February 2023, and following enforcement proceedings by the Swiss Financial Market Supervisory Authority, the Dohrnii Foundation was dissolved in June 2023.[39][40]

As of 2023 he is under criminal investigation by the Public Prosecutor's Office of the Canton of Bern.[41]

Wealth

According to a tax declaration filed in 2020, Yousuf's taxable assets in cryptocurrencies were reported at 189 million Swiss francs, indicating an estimated net worth of 270 million Swiss francs.[42] The document also revealed that Yousuf owned 416,000 Ethereum coins, which, at the current exchange rate of 3,090 francs per coin, would be valued at approximately 1.26 billion Swiss francs.[1]

Personal life

On 20 May 2024 Yousuf became the first Iraqi and Kurdish man to reach the summit of Mount Everest.[43][44] During his climb, Yousuf raised both a Bitcoin flag and a Kurdistan flag at the summit, highlighting these symbols at an elevation of 8,849 meters.[45] The climb, which took approximately 50 days, was intended to draw attention to global disparities in access to financial education.[46][47]

Books

  • Yousuf, Dadvan (24 October 2022). Vom Flüchtling zum Bitcoin-Millionär (in German) (1. Auflage ed.). München: FinanzBuch Verlag. ISBN 978-3-95972-664-1. OCLC 1341273419.

References

  1. ^ a b Rossier (Fotos), Kilian Marti (Text) und Philippe (2022-01-17). "Dadvan Yousuf ist der jüngste Selfmade-Milliardär im Land". Blick (in Swiss High German). Retrieved 2023-02-23.
  2. ^ "Dadvan Yousuf". Forbes (in German). 2021-11-23. Retrieved 2023-08-10.
  3. ^ swissinfo.ch/mga (2022-05-20). "Refugee 'crypto millionaire' faces Swiss money laundering probe". SWI swissinfo.ch. Retrieved 2023-08-17.
  4. ^ "Krypto-«King» - Strafuntersuchung gegen Dadvan Yousuf". Schweizer Radio und Fernsehen (SRF) (in German). 2023-05-10. Retrieved 2023-12-11.
  5. ^ a b Beglinger (Text), Martin (2021-07-07). "Kryptowährungen: Vom Flüchtlingskind zum Bitcoin-Millionär". Neue Zürcher Zeitung (in Swiss High German). ISSN 0376-6829. Retrieved 2024-07-26.
  6. ^ a b Beglinger (text), Martin (2021-07-14). "Kurdish refugee buys bitcoins as child, is now multimillionaire". Neue Zürcher Zeitung (in Swiss High German). ISSN 0376-6829. Retrieved 2024-07-26.
  7. ^ "دبي توفر بيئة تشريعية وتنظيمية متطورة لاستقطاب منصات تداول الأصول الافتراضية العالمية". www.emaratalyoum.com (in Arabic). 2024-02-10. Retrieved 2024-07-26.
  8. ^ "A 21 ans, l'ancien réfugié est devenu millionnaire grâce au Bitcoin". 24 heures (in French). 2021-04-21. Retrieved 2024-07-26.
  9. ^ "Kryptowährung: Dadvan Yousuf ist 21 Jahre alt und Multimillionär". Aargauer Zeitung (in German). 2021-09-11. Retrieved 2024-07-26.
  10. ^ "Svizzera, la favola di Dadvan, il giovane rifugiato curdo diventato milionario grazie ai Pokemon venduti a cambio di Bitcoin". la Repubblica (in Italian). 2021-04-18. Retrieved 2024-07-26.
  11. ^ "Investe in Bitcoin a 11 anni: storia di un milionario - Punto-Informatico.it". www.punto-informatico.it. Retrieved 2024-07-26.
  12. ^ "La storia del bambino curdo diventato milionario grazie ai Pokemon venduti in cambio di Bitcoin". quoted business (in Italian). 2021-05-12. Retrieved 2024-07-26.
  13. ^ a b "Er tauschte seine Spielsachen gegen Bitcoins". Der Bund (in German). 2021-04-02. Retrieved 2024-07-26.
  14. ^ "Vom Geflüchteten zum Multimillionär: die Geschichte von Dadvan Yousuf". www.fr.de (in German). 2022-01-15. Retrieved 2024-07-26.
  15. ^ Ritter, Pascal (2021-11-08). "Dadvan Yousuf (21): Vom Flüchtlingskind zum Bitcoin-Millionär". Luzerner Zeitung (in German). Retrieved 2024-07-26.
  16. ^ ""Money Maker" – ARD-Doku über Bitcoin-Millionär Dadvan Yousuf". Prisma (in German). 2022-12-21. Retrieved 2024-07-26.
  17. ^ Ritter, Pascal (2021-11-08). "Dadvan Yousuf (21): Vom Flüchtlingskind zum Bitcoin-Millionär". Luzerner Zeitung (in German). Retrieved 2024-07-27.
  18. ^ Schweizer, Oliver (2021-11-08). "Mit Bitcoin aus der Armut: «Ich bin eine wandelnde Provokation» – der jüngste Schweizer Selfmade-Millionär im Interview". Zofinger Tagblatt (in German). Retrieved 2024-07-27.
  19. ^ "Dadvan Yousuf: Der Kryptomillionär über seine Autobiografie, die Finma und den Crash". Handelszeitung (in Swiss High German). Retrieved 2024-07-26.
  20. ^ "Ipsach". St. Galler Tagblatt (in German). 2021-11-08. Retrieved 2024-07-26.
  21. ^ "Vom Flüchtling zum Bitcoin-Millionär". TeleZüri (in Swiss High German). 2021-08-23. Retrieved 2024-07-26.
  22. ^ "Der junge Kryptomillionär Dadvan Yousuf im Interview". Handelszeitung (in Swiss High German). Retrieved 2024-07-26.
  23. ^ Maeder (mae), Ruedi (2021-11-18). "Crowdlitoken – Dadvan Yousuf wird aktiv, das FinTech nimmt wieder Fahrt auf". MoneyToday (in German). Retrieved 2024-07-26.
  24. ^ "Krypto-Millionär steigt bei Crowdlitoken ein". finews.ch (in German). 2021-11-12. Retrieved 2024-07-26.
  25. ^ Gr, Michael Schäfer, Werner; lehner (2021-11-11). "Krypto-Millionär Yousuf will Immobilienanlagen revolutionieren". Neue Zürcher Zeitung (in Swiss High German). ISSN 0376-6829. Retrieved 2024-07-26.{{cite news}}: CS1 maint: multiple names: authors list (link)
  26. ^ Bitcoin Schweiz News (2021-11-19). "CROWDLITOKEN erwirbt mit neuen CEO Dadvan Yousuf Immobilie – Token-Verkauf gestartet".
  27. ^ moneycab (2021-11-15). "Crowdlitoken erwirbt mit neuen CEO Dadvan Yousuf Immobilie". Moneycab (in Swiss High German). Retrieved 2024-07-26.
  28. ^ Maeder (mae), Ruedi (2021-11-18). "Crowdlitoken – Dadvan Yousuf wird aktiv, das FinTech nimmt wieder Fahrt auf". MoneyToday (in German). Retrieved 2024-07-26.
  29. ^ "Krypto-«King» Dadvan Yousuf - Der Krypto-«Milliardär» und seine fragwürdigen Transaktionen". Schweizer Radio und Fernsehen (SRF) (in German). 2022-02-17. Retrieved 2024-07-26.
  30. ^ "Dadvan Yousuf: Strafanzeige gegen Autorinnen des Schweizer Fernsehens". Handelszeitung (in Swiss High German). Retrieved 2024-07-26.
  31. ^ "Falsche Nachbarin". Die Weltwoche (in German). 2022-06-08. Retrieved 2024-07-26.
  32. ^ "Umstrittener Krypto-Unternehmer wirbt im FCS-Stadion | Schaffhauser Nachrichten". www.shn.ch (in German). 2022-02-18. Retrieved 2024-07-26.
  33. ^ Weill, Pierre (2022-08-15). "Dadvan Yousuf: Eine Biografie des Krypto-Investors". Neue Zürcher Zeitung (in Swiss High German). ISSN 0376-6829. Retrieved 2024-07-26.
  34. ^ "Dadvan Yousuf: Der Kryptomillionär über seine Autobiografie, die Finma und den Crash". Handelszeitung (in Swiss High German). Retrieved 2024-07-26.
  35. ^ Money Maker: Folge 3: Dadvan Yousuf – Kryptomillionär mit 17 (S01/E03) - hier anschauen (in German). Retrieved 2024-07-26 – via www.ardmediathek.de.
  36. ^ KG, imfernsehen GmbH & Co (2023-03-26). Money Maker Staffel 1, Folge 3: Dadvan Yousuf – Krypto-Millionär mit 17 (in German). Retrieved 2024-07-26 – via www.fernsehserien.de.
  37. ^ Beglinger, Martin (2022-02-14). "Der Krypto-Zauberlehrling Yousuf wird von der Finma durchleuchtet". Neue Zürcher Zeitung (in Swiss High German). ISSN 0376-6829. Retrieved 2024-07-26.
  38. ^ "Dadvan Yousuf (21) – Finma untersucht Stiftung von «Krypto-Zauberlehrling»". 20 Minuten (in German). 2022-02-15. Retrieved 2024-07-26.
  39. ^ "Vom Flüchtling zum Millionär: Die vom Kryptowunderkind Dadvan Yousuf gegründete Stiftung Dohrnii wird liquidiert". Handelszeitung (in Swiss High German). Retrieved 2024-07-26.
  40. ^ "Künftig nur noch Repräsentant: Bitcoin-Millionär Dadvan Yousuf legt Ämter bei Krypto-Bildungsplattform nieder". Handelszeitung (in Swiss High German). Retrieved 2024-07-26.
  41. ^ "Geldwäscherei und Betrug: Ermittlungen gegen «Kryptomilliardär» Dadvan Yousuf gehen weiter". 20 Minuten (in German). 2023-01-18. Retrieved 2023-08-10.
  42. ^ "dadvan yousuf ist der juengste selfmade milliardaer der schweiz". Blick.
  43. ^ "دادفان يوسف.. أول كردي يحقق إنجازاً تاريخياً بوصوله إلى قمة إيفرست" [Dadvan Youssef: the historic achievement of the first Kurd to reaching the summit of Everest]. Almasra (in Arabic). 25 May 2024.
  44. ^ "إنجاز تاريخي".. أول كوردي يعتلي أعلى قمة جبلية في العالم (صور)" [Historic achievement: the first Kurd to ascend the highest mountain peak in the world]. Shafaq news (in Arabic). 23 May 2024.
  45. ^ "Crypto Enthusiast Unfurls Bitcoin's Orange Flag Atop Mt. Everest". 2024-05-24. Retrieved 2024-07-26.
  46. ^ "Криптоэнтузиаст поднял флаг биткоина на Эверест". ForkLog. 2024-05-24. Retrieved 2024-07-26.
  47. ^ "Bitcoin Flag Raised at Mount Everest Summit – Bitbo". bitbo.io. 2024-05-24. Retrieved 2024-07-26.
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