Changpeng Zhao’s fortune is increasing every day and it now stands at $95.8 billion.
The richest man in crypto? Bloomberg recently assessed the fortune of Changpeng Zhao, the CEO of the Binance exchange platform. He is said to own more than $ 95 billion, which would put him in 11th place in ranking the world’s wealthiest billionaires.
Changpeng Zhao’s fortune
As the Bloomberg publication points out, this is the first time that Changpeng Zhao’s fortune has been assessed in this way. Moreover, Changpeng Zhao has seen his platform explode in a few years. As a result, the CEO of Binance is presently at the gates of the top 10 richest people in the world.
Bloomberg’s Billionaires Index now exceeds Mukesh Ambani ($ 92.9 billion) and Françoise Bettencourt ($ 91.9 billion). Changpeng Zhao’s fortune is also likely higher than reported, the valuation not considering his cryptocurrencies. Nobody knows how many Bitcoins (BTC) and BNB the CEO has.
Binance is the largest exchange globally, and its volumes are substantial. According to Bloomberg, its revenues amounted to $ 20 billion in 2021. If we look at the platform’s trading volume, we see that it exceeds 11 billion dollars over the last 24 hours, just for the spot.
The other great fortunes of the sector
Binance’s success places Changpeng Zhao’s fortune far ahead of its competitors. Bloomberg says the second-largest crypto fortune is “owned” by the elusive Satoshi Nakamoto, at $ 45.8 billion. Sam Bankman-Fried, CEO of FTX, comes in third, with $ 15.4 billion.
Coinbase CEO Brian Armstrong, meanwhile, weighs “only” $ 8.9 billion, and the Winklevoss brothers, who operate the Gemini exchange, are said to have a fortune of $ 5 billion each.
The sprawling Binance currently continues to expand globally. It applies for licenses in many countries and strives to show its white paws to regulators who did not look favourably on its initial very decentralized model. Changpeng Zhao’s fortune may therefore continue to grow significantly in the years to come.