![]() ![]() I do intend to give away 90%, 95%, or 99% of my wealth. “I do intend to give away most of my wealth, like many wealthy entrepreneurs or founders did from Rockefeller until today. I don’t need a lot of money, and I can maintain my lifestyle in this way,” he told the Associated Press in November. Last November, China’s Caijing Magazine pegged Zhao’s net worth above $90 billion, without describing how exactly it arrived at the figure.įor his part, Zhao says he will donate the vast majority of his fortune to charity. But amid a cryptocurrency trading boom this year, new estimates place Zhao’s fortune far higher. The following month, Forbes, which put Zhao’s stake in Binance at 30%, estimated Zhao’s net worth at $1.9 billion. ![]() Last March, the Hurun Report, which tracks the personal fortunes of the world’s wealthiest individuals, estimated that Zhao was worth $8 billion. The private crypto exchange, which does not disclose its financial results, processes as much as $170 billion of crypto trades a day, multiples more than any other competitor.Īll the unknowns behind Zhao’s wealth is likely why estimates of how much he ‘s worth have varied so widely. Likewise, little is known about the finances of Binance, the world’s largest crypto exchange by a wide margin. Zhao has not publicly commented on the size of his personal crypto holdings, but he told the Associated Press last November that his personal holdings make up the “majority” of his net worth. Factoring in Zhao’s personal crypto holdings would likely give him a fortune on par with that of Bill Gates, the world’s fourth richest person with a $135 billion net worth, and Zuckerberg, the world’s fifth richest with $124 billion. Zhao’s net worth may be even higher than $96 billion since Bloomberg did not account for Zhao’s personal holdings of Bitcoin and Binance Coin, the cryptocurrency issued by Binance. 10, Larry Ellison, cofounder of Oracle, who’s worth an estimated $107 billion.īloomberg says its estimate is based on Zhao’s stake in Binance, reporting that the exchange generated upwards of $20 billion in revenue in 2021 and that Zhao owns 90% of Binance’s shares, according to a review of the firm’s regulatory filings. 12, Mukesh Ambani, CEO of Indian conglomerate Reliance Industries, and No. On the Bloomberg Billionaires Index, Zhao, known as “CZ” in crypto circles, is now sandwiched between No. Zhao declined to comment to Bloomberg, and Binance disputed the accuracy of the estimates.On Monday, Bloomberg calculated that Zhao’s net worth is $96 billion, which would make him the 11 th richest person in the world. ![]() It valued the business based on publicly traded peers. Who owns 90% of Binance?Bloomberg assumed Zhao owns 90% of Binance, and estimated the exchange’s revenue from spot and derivatives trading volumes and advertised fees. Zhao founded Binance in July 2017, raising $15 million through an initial coin offering. The Chinese-Canadian coder cut his teeth building high-frequency trading systems for Wall Street's flash boys. Who is Changpeng Zhao?Changpeng Zhao, who goes by CZ, is the founder and CEO of Binance, the largest cryptocurrency exchange in the world. Billionaire Changpeng Zhao and leading cryptocurrency exchange Binance pleaded guilty on Tuesday to federal charges in a watershed moment designed to bring order to the often-lawless crypto industry. Bitso operates as a cryptocurrency-based financial services company. FTX experienced a “liquidity crunch” after it was revealed that much of Alameda Research’s assets were comprised of FTX Token ( FTT-USD ). The company was founded in 2007 and is based in London, United Kingdom. Is Binance's Changpeng Zhao acquiring FTX?Binance ( BNB-USD) CEO Changpeng Zhao has signed a non-binding letter of intent to acquire FTX. Binance CEO Changpeng “CZ” Zhao is worth an estimated $96 billion, a figure that rivals tech billionaires Mark Zuckerberg, Larry Page and Sergey Brin, according to Bloomberg. How rich is Binance CEO Changpeng Zhao?Changpeng Zhao’s wealth has been estimated for the first time by the Bloomberg Billionaires Index. ![]()
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