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

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

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 post

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email

More News

All articles loaded
No more articles to load

Knowledge Base

Polygon

What is Polygon (MATIC)?

Another coin worth looking at is Polygon (MATIC). It is especially liked by many investors. So what makes its popularity…
Shiba Inu SHIB

What is Shiba Inu (SHIB)

Shiba Inu (SHIB) is one of the most sought-after coins on the market. This is evidenced by its dynamic rallies…
Who is Satoshi Nakamoto

Who is Satoshi Nakamoto?

The world’s biggest cryptographic mystery remains unsolved to this day. It is speculated whether Satoshi Nakamoto is a single person…
solana

What is Solana (SOL)

Solana (SOL) is one of the hottest cryptocurrency projects on the market. Although it is a relatively young creation, it…
Cryptocurrency address formats

Cryptocurrency address formats

In earlier articles, we have, among other things, given you a brief overview of cryptocurrency wallets that you can apply…
Bitcoin ATMs

Bitcoin ATM’s

The most popular places to buy and sell cryptocurrencies are of course cryptocurrency exchanges. Others that are equally ambitious in…
Public and Private blockchains

Public and Private Chains

When analyzing the cryptocurrency market, we may come across terms related to blockchains. The two most popular types of them…
All articles loaded
No more articles to load

Analyses

All articles loaded
No more articles to load

Knowledge Base

Who is Satoshi Nakamoto?

The world’s biggest cryptographic mystery remains unsolved to this day. It is speculated whether Satoshi Nakamoto is a single person or perhaps the name of…

What is Solana (SOL)

Solana (SOL) is one of the hottest cryptocurrency projects on the market. Although it is a relatively young creation, it has already managed to gain…

Cryptocurrency address formats

In earlier articles, we have, among other things, given you a brief overview of cryptocurrency wallets that you can apply to your own needs. However,…

Bitcoin ATM’s

The most popular places to buy and sell cryptocurrencies are of course cryptocurrency exchanges. Others that are equally ambitious in capturing the market are applications…

Public and Private Chains

When analyzing the cryptocurrency market, we may come across terms related to blockchains. The two most popular types of them are public and private chains.…

What are block explorers?

In this article, we discuss a free online search engine that allows you to browse the contents of a blockchain database. We also discuss transaction…

Law and Trading in Cryptocurrencies

More and more countries allow the use of cryptocurrencies as financial- or business instruments. They are even allowed to be used as regular means of…

Taxation of cryptocurrencies in Europe

Cryptocurrencies are gaining popularity all the time and are slowly becoming a widely accepted means of payment. As more and more people are interested in…

What are cryptocurrency nodes?

Most cryptocurrencies operate on the principle of distributed transaction systems, running on a P2P, or peer-to-peer, network. In practice, this means that such a network…

How do Bitcoin Blocks work?

Bitcoin (BTC) is currently one of the most popular digital currencies in the world. How does it differ from the classic currencies used in everyday…
All articles loaded
No more articles to load