Binance CEO Zhao Is Worth $96B Excluding Crypto Holdings: Report.
For the first time, the Bloomberg Billionaires Index has calculated Changpeng Zhao's net worth.
Changpeng "CZ" Zhao, the CEO of Binance, is estimated to be worth $96 billion, a figure that rivals tech billionaires Mark Zuckerberg, Larry Page and Sergey Brin, according to Bloomberg.
- The Bloomberg Billionaires Index has calculated Zhao's net worth for the first time, concluding that it exceeds that of Asia's richest person, Mukesh Ambani, chairman of Indian giant Reliance Industries.
- Zhao's personal crypto holdings are not included in the $96 billion figure, so it could be significantly understated.
- Zhao's fortune is projected to rival that of Facebook creator Mark Zuckerberg and Google founders Larry Page and Sergey Brin, according to Bloomberg.
- Among his crypto peers, the 44-year-closest old's rivals are FTX founder Sam Bankman-Fried ($15.4 billion) and Coinbase CEO Brian Armstrong ($8.9 billion), according to Bloomberg’s index.
- Binance is the world's largest cryptocurrency exchange, with a 24-hour trading volume of $106 billion as of January 6, according to CoinGecko. It made at least $20 billion in sales last year, according to Bloomberg.
- Bloomberg projected Binance's revenue from spot and derivatives trading volumes, as well as stated fees, assuming Zhao owns 90% of the company. It assigned a value to the company based on publicly traded competitors. Binance disputed the accuracy of the projections, and Zhao declined to respond to Bloomberg.
