Binance CEO is now one of the richest people in the world

Binance's troubles - the largest cryptocurrency exchange exponentially withdraws from many European markets

According to a recent Bloomberg report, the CEO of the Binance exchange has become one of the richest people in the world. His wealth is valued at $96 billion.

Just outside the top ten

As reported by Bloomberg, Changpeng Zhao took the honorable 11th position in the ranking. The agency estimated his value at $96 billion, which is primarily 30% of the shares of Binance. This is how many of them belong to the creator of the exchange. The popular CZ has thus overtaken the previous richest Asian billionaire which is Mukesh Ambani.

The first place of the ranking is occupied by another crypto entrepreneur present in the market – Elon Musk. His wealth was estimated at $263 billion. The other two places on the podium are occupied by Jeff Bezos and Bernard Arnault, valued at 188 and 171 billion USD, respectively.

Changpeng Zhao also reigns in the Chinese ranking

The CEO of the Binance exchange has not escaped the radar of the Chinese Caijing Magazine. At the beginning of December the magazine published the ranking of the richest Chinese and it shows that CZ took the first place. Zhao’s fortune was valued at $90 billion at that time. Second in the ranking was Zhong Shanshan with a government valuation of 66 billion USD. This difference represents a real financial gap between the competitors.

The paradox of this situation is that Changpeng Zhao, due to the actions of the Chinese government, is a relatively unknown figure in the Middle Kingdom. However, his position at the top of the ranking certainly contributes to drawing the attention of the Chinese towards crypto assets that are illegal there.

It wasn’t always so colorful

CZ is undoubtedly a very inspiring figure. As it turns out, he does not come from a wealthy family. As a teenager, to support the household budget he worked at McDonald’s. When he entered college, he worked nights at a gas station to help pay the basic bills. However, his entrepreneurial mind did not allow him to lead this kind of life, which led Zhao to found the Binance exchange in 2017. Today, it is the most popular digital asset exchange platform, far outpacing its competitors. Although the exchange often struggles with regulatory issues, it continues to strengthen its position thanks to cooperation with authorities in many countries. Changpeng Zhao, despite being one of the richest figures on the globe, has repeatedly indicated in interviews that he leads a minimalist lifestyle and doesn’t actually need that much money. Consequently, he plans to give away about 90-99% of his wealth in the future.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

Share this article

More news


XRP outperforms Bitcoin and Ethereum

In the past week, XRP decisively outperformed its main rivals, Bitcoin (BTC) and Ethereum (ETH), in terms of capital flows. Moreover, it recorded an impressive $2.7 million…

Solana and Avalanche on the eye of investment funds

Two alternative coins, Solana (SOL) and Avalanche (AVAX), are gaining increasing interest and are successively attracting the attention of investment funds. Although bitcoin (BTC) remains the main…
All articles loaded
No more articles to load


Cryptocurrency wallets

Cryptocurrency wallets

We talked about security when trading crypto assets in an article titled “Online security“. We also mentioned how important it…
hardware wallets

Cryptocurrency hardware wallets

From the article titled “Cryptocurrency wallets” you learned about the different types of wallets. They were briefly characterized there. Let’s…
Where to buy cryptocurrency brokers

Which cryptocurrency Brokers to use

In the article “Where to Buy Cryptocurrencies (Exchanges)“, we introduced you to which exchange platforms you can purchase cryptocurrencies on.…
Trading cryptocurrencies

Trading cryptocurrency

In the cryptocurrency market, you face many opportunities to invest in cryptocurrency or buy or sell cryptocurrency. If you want…
All articles loaded
No more articles to load


All articles loaded
No more articles to load

Latest news

All articles loaded
No more articles to load