Binance CEO Changpeng Zhao is the Wealthiest Crypto Billionaire

CEO Changpeng Zhao

January 11, 2022

Reading Time: 2 minutes

Crypto exchange Binance may only be five years old, but it has made its CEO Changpeng Zhao the wealthiest crypto billionaire. According to the analysis done by Bloomberg Billionaires Index, Zhao, popularly known as CZ, has an estimated net worth of $96 billion.

At $96 billion, crypto billionaire CZ has surpassed Mukesh Ambani, Asia’s richest billionaire, and competes with Larry Ellison, the founder of Oracle (ORCL). Binance CEO Changpeng Zhao is the 11th richest person globally outside the cryptocurrency scene.

Zhao’s Billionaire Rank is Exclusive of his Crypto Holdings

It is worth noting that the $96 billion is exclusive of Zhao’s crypto holdings like Bitcoin (BTC) and Binance Coin (BNB). Zhao recently disclosed holding these coins for years and has never sold them.

According to Bloomberg, Zhao’s net worth estimate is from the billionaire’s stake in Binance. Zhao holds 90% of Binance shares and the company reportedly raised revenue of over $20 billion in 2021. If Zhao’s entire holdings were factored, he would be ranked near Tesla’s Elon Musk and Meta’s Mark Zuckerberg.

Zhao’s billionaire rank of fortune mirrors the rapid growth of cryptocurrencies. The CEO of FTX, Sam Bankman-Fried, observed this fact, stating that there has been an “unprecedented amount of wealth creation that has occurred in the industry over the last few years.” Other crypto executives such as Ethereum’s Vitalik Buterin and Coinbase’s Brian Armstrong became billionaires last year.

Crypto Billionaire CZ Has No Problem Donating Everything to Charity

In response to Bloomberg’s announcement, crypto billionaire CZ tweeted, “Don’t worry about ranking. Focus on how many people you can help.” The 44-year-old billionaire has previously mentioned that he did not have any problem donating his entire fortune to charity.

On Tuesday, Zhao tweeted a follow-up that there should be rankings of charity and philanthropy efforts instead of rankings about wealth.

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