Binance CEO Zhao becomes richest crypto billionaire


TL;DR Breakdown:

  • Changpeng Zhao officially becomes richest crypto billionaire.
  • Zhao is expected to rank among top 10 richest billionaire’s in the near future.

Changpeng Zhao, Binance Exchange CEO, has officially become the wealthiest crypto billionaire in the world.

According to Bloomberg, Zhao is worth $96 billion, making him worth more than Indian business mogul Mukesh Ambani, whose net worth stands at $92.9 billion, according to the Bloomberg Billionaire Index.

Zhao’s estimated net worth pegged at $96 billion does not include his personal Bitcoin and Binance Coin holding, which he recently revealed he had stashed for many years and had not sold. His net worth may be more than $96bn.

Zhao among richest billionaires in the world

While Zhao is the number one crypto billionaire, he ranks number 11 on the world’s richest men list.

Zhao is directly behind Oracle co-founder Larry Ellison, whose net worth currently sits at $107 billion, $11 billion more than Binance CEO.

However, with the many potentials of the crypto industry and Binance growth trajectory, it’s finals a possibility that soon Zhao would worth more than other tech giants like Warren Buffet, Mark Zuckerberg, Sergey Brin, among others.

These tech giants rank above Zhao in the list of wealthiest billionaires in the world, where Tesla CEO Elon Musk leads, followed by Amazon CEO Jeff Bezos and Bernard Annault as number three.

Others in top 10 are Bill Gates, Larry Page, and Steve Ballmer.

Binance CEO plan for his fortunes

Previously, Zhao has said he does not have any problems donating his entire fortune to charity.

The Binance CEO’s way to becoming a crypto billionaire started almost ten years ago when Bobby Lee, then CEO of cryptocurrency exchange and investors Ron Cao, persuaded CZ to deploy 10% of his net worth into Bitcoin. That was about his first move into the crypto industry.

After his investment in Bitcoin, when many never believed in the cryptocurrency, fast forward to now, Zhao has become the wealthiest person in crypto and ranks as the world’s 11th richest person. His fortunes have swelled over the past years as he also owns 90% of Binance’s shares. Considering, Binance as the world’s largest cryptocurrency exchange by trading volume and its ambitious expansion plans, CZ’s estimation isn’t surprising.

Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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