Changpeng “CZ” Zhao, founder of the Binance crypto wallet, is one of the richest people in the world according to estimates by the business news agency Bloomberg. Accordingly, the fortune of the 44-year-old is currently around 96 billion US dollars. This would put him in 11th place in Bloomberg’s billionaire rankings, ahead of Indian oil tycoon Mukesh Ambani, who owned $ 93.3 billion.
According to Bloomberg calculations Zhao’s fortune is likely to exceed that of the still unknown person behind the bitcoin finder pseudonym Satoshi Nakamoto. Based on the Bitcoin addresses assigned to Nakamoto, Bloomberg determined a value of around 45 billion US dollars. This makes Zhao the richest person in the crypto scene. Zhao’s personal crypto assets were also not included in the asset estimate; so he could be even more wealthy.
Among the top ten in the Bloomberg-Ranking, which apart from LVMH majority owner Bertrand Arnault only consists of US tech billionaires, he would still be missing a few billion. Oracle founder Larry-Ellison is currently in 10th place with 107 billion US dollars, while Tesla boss Elon Musk takes first place with 207 billion US dollars.
Binance denies estimate
Zhao is currently not listed in the ranking anyway; the reason for this remained unclear. In any case, Binance denied Bloomberg that the asset estimate was correct. Apart from that, the crypto industry is still in a growth phase and is therefore subject to great fluctuations. “Every number you hear today will be different from the number the next day,” said the exchange.
Changpeng Zhao did not comment immediately. He shared on Twitter that you shouldn’t focus on rankings, but on how many people you can help. Instead of comparing wealth, there should be rankings for philanthropy.
Finanzaufsichten vs. Binance
The crypto exchange Binance, founded by Changpeng Zhao in 2017, is currently the world’s largest trading platform for cryptocurrencies and derivatives on them. According to Bloomberg, the stock exchanges had sales of around $ 20 billion in 2021 alone. However, Binance is by no means undisputed and has always been in trouble with supervisory authorities. Last year, for example, in Germany, at the behest of the Bafin, the stock exchange had to stop its business with so-called share tokens. The financial regulators in the US, UK, Japan, Singapore and other countries also have Binance in their sights.
Originally founded in China, the company had already changed headquarters several times, including residing in Malta. Critics see the frequent changes of headquarters as an attempt to evade regulatory requirements.