The CEO of Binance Is the Wealthiest Crypto Billionaire
Who would have believed that the CEO of a company founded just five years ago would now join the top 15 richest people in the world? According to Bloomberg, Changpeng Zhao, also known as CZ has an estimated net worth of $96 billion.
Bloomberg assumed that CZ owns 90% of Binance and did not include his personal holdings. In November of 2021, Changpeng Zhao was interviewed and revealed that he bought Bitcoin in 2014 and that the other crypto he holds, which is BNB, represents the majority of his net worth. With this known, CZ’s real net worth could be a lot more than $96 billion.
After the Bloomberg announcement, the CEO of Binance tweeted the following on his official account:
“Don’t worry about rankings. Focus on how many people you can help,” said CZ.
Crypto Exchanges CEO Billionaires Club
The CEO of the biggest cryptocurrency exchange Binance by daily volume joins other crypto billionaires in the space, like Sam Bankman-Fried and Brian Armstrong, according to Bloomberg Billionaires Index, and all of them are CEOs of the main crypto exchanges.
Sam Bankman-Fried with a net worth of $15.4 billion is the CEO of FTX cryptocurrency exchange, which last year made historical partnerships in sports such as with the MLB and the naming rights of the stadium of the Miami Heats.
Brian Armstrong with a net worth of $8.93 billion is the CEO of Coinbase cryptocurrency exchange, which started trading publicly on the Nasdaq exchange in April 2021.
Binance Latest Milestones
Binance has really grown since its inception days, having a lot of new services like staking and the NFT marketplace, and one of CZ´s main focus in Binance is to work with regulators as closely as possible.
One of its latest news, in late December 2021 was the completion of the acquisition of Swipe shares, one of the biggest crypto debit card issuer that works with Visa and Mastercard. This acquisition started in July of last year with the purchase of the majority of Swipe shares.
In other recent news, the exchange made in October 2021 a $1 billion funding to its network Binance Smart Chain, in order to expand its global crypto users to 1 billion.
As more people enter the crypto industry, most people probably will begin with Binance because of its recognition. It appears that the real net worth of CZ including his personal crypto holdings could put him near the top five world’s billionaires like Mark Zuckerberg and Warren Buffett.