Bloomberg estimates that Binance CEO Changpeng Zhao is the world’s richest known person in crypto. According to Bloomberg Billionaires Index, CZ’s net worth stands at $96 billion, surpassing even that of Asia’s richest person, Mr. Mukesh Ambani. Bloomberg estimated Zhao’s wealth based on his stake in Binance which he owns upto 90 percent of the company’s shares. While much is not known about the finances of Binance as the company doesn’t disclose its financial results, the trading platform processes as much as $170 billion of crypto tradings per day. In 2021 alone, the company generated a revenue of $20 billion, according to a Bloomberg analysis of its trading volume and fees. That is almost triple what a Wall Street analysts estimated for rival crypto exchange Coinbase will generate for 2021. However, Zhao’s personal fortune could be even bigger than that, since his wealth estimate does not take into account his cryptocurrency holdings which include Bitcoin, and Binance’s BNB cryptocurrency which soared to roughly 1,300 percent last year. In fact, he told the Associated Press last November that his personal holdings make up the ‘majority’ of his net worth. Before accounting for his crypto holdings, Zhao’s $96 billion net worth makes him the world’s 11th richest person, according to Bloomberg. He has now twice the wealth of Alibaba co-founder Jack Ma with an estimated net worth of around $40 billion and is just behind Google c...
