Binance CEO Changpeng Zhao is now worth an astonishing $96 billion
Bloomberg has estimated that the net worth of Binance CEO Changpeng Zhao currently stands at a staggering $96 billion, which officially makes him the richest known person in crypto.
He is now worth more than Indian business mogul Mukesh Ambani, whose net worth stands at $92.9 billion, according to the Bloomberg Billionaire Index. CZ is also in close proximity of such juggernauts as Berkshire Hathway CEO Warren Buffett and Meta CEO Mark Zuckerberg.
Zhao’s fortune could be even bigger since little is known about his cryptocurrency holdings.
The cryptocurrency tycoon, who used to work at McDonald’s as a teenager, has so far shied away from commenting on the size of his fortune, but he plans to give away his entire wealth.
As reported by U.Today, The Wall Street Journal claimed that his cryptocurrency behemoth could be worth up to $300 billion if it were to go public.
The exchange’s revenue reportedly topped $20 billion in 2021, dwarfing the numbers that are expected to be posted by U.S-based rival Coinbase.
Binance, however, questioned the accuracy of Bloomberg’s calculations, claiming that crypto is way too volatile to make any concrete estimates.
Apart from being exposed to mercurial crypto prices, the exchange also faced an onslaught of regulatory scrutiny earlier this year.
FTX CEO Sam Bankman-Fried and Coinbase CEO Brian Armstrong are worth $15.4 billion and $8.93 billion, respectively.
Tesla CEO Elon Musk remains the world’s richest person by a long shot with an estimated net worth of $263 billion. Amazon founder Jeff Bezos and French fashion mogul Bernard Arnault are in second and third places, respectively ($188 billion and $171 billion).