Changpeng Zhao’s net worth overtook Asia’s richest billionaire, Mukesh Ambani, despite Bloomberg excluding his personal crypto holdings.
Changpeng Zhao, CEO of Binance and also known as “CZ,” tops the list of richest crypto billionaires with an estimated net worth of $96 billion.
According to Bloomberg, CZ ranks 11th among the world’s richest people as Binance retains its position as the biggest crypto exchange in terms of trading volume.
CZ, the 44-year-old crypto entrepreneur, overtook Asia’s richest billionaire, Mukesh Ambani, despite Bloomberg excluding his personal crypto holdings, such as Bitcoin (BTC) and the exchange’s in-house Binance Coin (BNB) tokens.
The industry is growing.
According to Bloomberg’s estimation, CZ stands just behind Oracle co-founder Larry Ellison, whose net worth currently leads by roughly $11 billion. While this was the first time Bloomberg estimated CZ’s fortune, Binance’s growth trajectory signals a possibility of exceeding tech goliaths such as Meta’s Mark Zuckerberg and Google co-founders Larry Page and Sergey Brin.
Currently, Zuckerberg, Page and Brin and rank 5th, 6th and 7th, respectively, while Tesla CEO Elon Musk leads the billionaires’ list with an estimated fortune of $263 billion.
Top 10 richest billionaires. Source: Bloomberg Billionaires Index
Data from Cointelegraph Markets Pro and TradingView confirm that the price of BNB appreciated over 1,300% in the past year alone. If BNB can maintain such a pace, CZ will become the first crypto entrepreneur to enter the top 10 billionaires list.
Price performance of BNB in 2021. Source: TradingView.
The success of Binance can be attributed to CZ’s ongoing efforts to accrue operational licenses across jurisdictions globally. Despite regulatory hurdles, Binance maintains an ongoing partnership and acquisition streak to remain a leader in the crypto trading space.
Most recently, the crypto exchange finalized the acquisition of Swipe, a prominent crypto Visa card provider that operates at over 70 million locations worldwide. In addition, Binance also launched a $1-billion initiative to fast-track the development of the Binance Smart Chain ecosystem and advance mainstream adoption across the financial technology sector.