Best crypto insights delivered straight to your inbox.
TL;DR Breakdown
- Binance CEO reportedly worth $90 bn.
- Forbes however, says Zhao is worth $1.9 bn.
- Zhao to give all his wealth to charity.
Recently, Binance exchange CEO CHangpeng Zhao was announced the richest man in Ethnic China, with a value of around $90 billion. He is valued at hundreds of billions in USD, along with his exchange firm, Binance.
China Caijing magazine recently also published that Changpeng Zhao is among the top ten richest people globally, making him richer than the founders of Tiktok and Recent.
Most of his wealth is said to come from his 30 percent stake in Binance exchange which is disputed by Chinese Journalist Colin Wu, who alleges that Changpeng Zhao allegedly owns over 90 percent stake in Binance, which makes him the richest man on earth.
However, per data on Forbes, Changpeng Zhao is worth $1.9bn, making him the 22nd richest person in Singapore, where he is temporarily based and 1,664th richest person on earth.
Charity: Changpeng Zhao reveals where all his wealth is going to
Weeks back, Zhao revealed that he owns a certain amount of Bitcoin and a large amount of Binance’s native token, Binance coin (BNB). Changpeng Zhao recently spoke with the Associated Press, sharing that most of his wealth comes from his crypto portfolio and his stake in his crypto exchange, noting that he is a “decent-sized shareholder in Binance.”
During the interview, Zhao said that he is determined to donate most of his wealth, claiming that he does not need much given his simple lifestyle.
“I bought some Bitcoins in 2014. I spent a little bit of it over time, but I held onto most of it. I did not sell. The other asset I hold, which is the majority of my net worth, is BNB (Binance coin). Personally, I don’t hold any other coins. I am a decent-sized shareholder in Binance…I do intend to give away most of my wealth like many wealthy entrepreneurs or founders did from Rockefeller until today. I do intend to give away 90, 95, or 99% of my wealth,” he said.
If you're reading this, you’re already ahead. Stay there with our newsletter.
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.
CRASH COURSE
- Which cryptocurrencies can make you money
- How to boost your security with a wallet (and which ones are actually worth using)
- Little-known investment strategies that the pros use
- How to get started investing in crypto (which exchanges to use, the best crypto to buy etc)