Changpeng Zhao, the founder and CEO of the world’s largest cryptocurrency exchange Binance has an estimated net worth of $96 billion, according to a Monday’s report published by Bloomberg.
Key takeaways:
- The majority of CZ’s net worth is reportedly tied in his stake in Binance – the crypto billionaire owns 90% of Binance’s shares, according to recent regulatory filings.
- The latest net worth estimate places CZ just outside Forbes’ top 10 billionaires list. Microsoft co-founder Steve Ballmer currently occupies the 10th spot with $98.2 billion.
- CZ’s real net worth could be far higher than Bloomberg estimates. When speaking with Associated Press in November, Zhao revealed that the “majority” of his fortune is tied up in personal crypto holdings consisting of Bitcoin and Binance Coin.
- Sam Bankman-Fried, the founder and CEO of FTX, is another crypto member on the list of wealthiest individuals with a reported net worth of $26.5 billion.
- Due to its private ownership structure, it is almost impossible to pinpoint the exact market capitalization value of Binance. Last year’s report by the Wall Street Journal showed the exchange could be worth up to $300 billion.
- The hypothetical market capitalization ranks Binance as the 29th largest company in the world, ahead of entertainment giant Walt Disney and multinational oil and gas corporation Exxon Mobil.
