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Binance CEO’s net worth make him (at least) the world’s 11th richest person currently
Fortune | Grady McGregor | Jan 10, 2022
New estimates claim the CEO of cryptocurrency exchange Binance, Changpeng Zhao, is the world’s richest crypto billionaire, with a net worth rivaling the sums amassed by tech billionaires Elon Musk, Jeff Bezos, Bill Gates, and Mark Zuckerberg.
On Monday, Bloomberg calculated that Zhao’s net worth is $96 billion, which would make him the 11th richest person in the world. On the Bloomberg Billionaires Index, Zhao, known as “CZ” in crypto circles, is now sandwiched between No. 12, Mukesh Ambani, CEO of Indian conglomerate Reliance Industries, and No. 10, Larry Ellison, cofounder of Oracle, who’s worth an estimated $107 billion.
See:
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Bloomberg says its estimate is based on Zhao’s stake in Binance, reporting that the exchange generated upwards of $20 billion in revenue in 2021 and that Zhao owns 90% of Binance’s shares, according to a review of the firm’s regulatory filings.
Zhao’s net worth may be even higher than $96 billion since Bloomberg did not account for Zhao’s personal holdings of Bitcoin and Binance Coin, the cryptocurrency issued by Binance. Factoring in Zhao’s personal crypto holdings would likely give him a fortune on par with that of Bill Gates, the world’s fourth richest person with a $135 billion net worth, and Zuckerberg, the world’s fifth richest with $124 billion.
Zhao has not publicly commented on the size of his personal crypto holdings, but he told the Associated Press last November that his personal holdings make up the “majority” of his net worth.
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