The Fortune Of The CEO Of Binance Is 96 Billion Dollars Without Counting Crypto

2022-01-10 19:43:01
Zhao Well Above $100 Billion

The CEO of Binance, one of the biggest crypto exchanges on the globe, Changpeng Zhao, has a net worth that is estimated at 96 billion dollars. And, according to Bloomberg, this amount is without calculating the assets from crypto holdings.

As per the report by Bloomberg Billionaires Index, this makes Changpeng Zhao easily the wealthiest person in Asia.

In fact, the CEO’s personal wealth has increased up to such an extent, that Changpeng surpassed billionaire Mukesh Ambani of Reliance Industries on the top spot as the richest individual in Asia.

And that is not including the crypto assets of Chanpeng Zhao.

According to Bloomberg, if we add the amount from the crypto assets to the overall net worth of Changpeng Zhao, then the CEO of Binance easily rivals names such as Facebook creator Mark Zuckerberg, or Google founders Larry Page and Sergey Brin.

From here, it is safe to conclude that with an estimated worth of 96 billion dollars, Changpeng Zhao is by far the wealthiest CEO of any crypto exchange in the world, which is appropriate considering the magnitude of Binance.

Up to such extent, that the personal wealth of the CEO of Binance eclipses the joint personal wealth of the CEOs of the biggest rivals of the exchange, Coinbase and FTX.

Specifically, the CEO and founder of Coinbase Brian Armstrong has a net worth of $8.9 billion.

And considering that the founder of FTX, Sam Bankman-Fried, has a net worth of $15.4 billion, it is clear that even combined they cannot match the wealth of Changpeng Zhao.

The Crypto Exchange With The Largest Trading Volume In The World

Consequently, it takes one look at Binance’s trading volume to realize how the CEO managed to stack its wealth. One very good example of that is the whopping $106 billion of trading volume in just 24 hours, on January the 6th.

As a result of being the number one crypto exchange by trading volume, Binance can brag for netting more than $20 billion in revenue in 2022.

Specifically, this amount is from derivatives and spot trading volumes, as well as advertised fees.

Assuming that Changpeng Zhao holds about 90% of Binance, Bloomberg expects the wealth of the CEO to only grow in 2022.

However, the CEO of Binance did not want to comment on the matter, or whether the report of the Bloomberg Billionaires index is 100% accurate. Yet, judging by Bloomberg’s outstanding reputation, the numbers suggest this is that this is the truth.

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