New estimates reveal that Changpeng Zhao (CZ), CEO of Binance, the world’s largest cryptocurrency exchange, has joined the ranks of tech titans like Elon Musk and Jeff Bezos with a staggering net worth of **$96 billion**. According to the [Bloomberg Billionaires Index](https://www.bloomberg.com/billionaires/), this places him as the **11th richest person globally**, surpassing Indian magnate Mukesh Ambani and nearing Oracle’s Larry Ellison ($107 billion).
How Zhao’s Fortune Was Calculated
- Binance Stake: Bloomberg’s estimate hinges on Zhao’s 90% ownership of Binance, which generated $20 billion in revenue in 2021.
- Excluded Assets: The figure does not account for Zhao’s personal holdings in Bitcoin and Binance Coin (BNB), suggesting his actual wealth could rival Bill Gates ($135 billion) or Mark Zuckerberg ($124 billion).
- Self-Disclosure: Zhao confirmed in a November 2021 interview that cryptocurrencies comprise the "majority" of his net worth but hasn’t disclosed specifics.
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The Mystery Behind Binance’s Finances
Despite handling $170 billion in daily trades—far outpacing competitors—Binance remains a private company with undisclosed financials. This opacity explains wildly varying past estimates:
- March 2021: Hurun Report valued Zhao at $8 billion.
- April 2021: Forbes estimated $1.9 billion, assuming a 30% stake in Binance.
- November 2021: Caijing Magazine pegged his wealth at $90+ billion without methodology.
Zhao’s Philanthropic Pledge
CZ has repeatedly stated his intent to donate 90–99% of his wealth, aligning with pledges by figures like Rockefeller. In his words:
"I’m financially free. I don’t need a lot of money... I intend to give away most of my wealth."
Key Takeaways
- CZ’s $96B net worth cements him as crypto’s wealthiest figure.
- Binance’s dominance (90% owned by Zhao) fuels his fortune.
- Philanthropy focus: Zhao plans to donate nearly all his wealth.
FAQ Section
Q1: How does CZ’s net worth compare to other crypto billionaires?
A1: He surpasses all peers, including Coinbase’s Brian Armstrong ($6.5B) and FTX’s Sam Bankman-Fried ($22B).
Q2: Why do estimates of Zhao’s wealth vary so much?
A2: Binance’s private status and undisclosed crypto holdings make precise valuation challenging.
Q3: What’s Binance Coin’s role in Zhao’s net worth?
A3: As Binance’s native token, BNB’s value directly impacts his wealth, though exact holdings are unconfirmed.
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