According to the Bloomberg Billionaire Index, Zhao now has a net worth of at least 96 billion. This means that CZ lost $87 billion in about 130 days, which would now put him at number 108 on the Bloomberg billionaires list.Īlthough the remaining $11 billion means CZ remains exceptionally wealthy, this drop dethrones Masayoshi Son, an investor who in the second half of the 1990s -in the midst of the dotcom crash- whose fortune dropped from $78 billion to $1.1 billion, a loss of $76.9 billion.ĭespite Binance's massive losses, CZ told The Guardian when asked if he still considers the recent crypto market moves are“normal” -as he described them this month:“Normal depends on how you look at it… everybody has a different definition of normal… fluctuations in price is normal,” MENAFN reports. Binance CEO Changpeng Zhao has been rated as the richest known face in the crypto world. New estimates claim the CEO of cryptocurrency exchange Binance, Changpeng Zhao, is the world's richest crypto billionaire, with a net worth rivaling the sums amassed by tech billionaires Elon Musk, Jeff Bezos, Bill Gates, and Mark Zuckerberg. In May, he tweeted that he was 'poor again,' which may not sit well with all the investors who have lost significant portions of their savings. At the same time, Binance was handling $50 to $80 billion a day, with a record high of $170 billion on September 25.ĬZ says that Binance owned about 15 million LUNA tokens worth $1.6 billion at their peak, but they are worth less than $3,000 today according to Fortune. Eight months later, the exchange became the largest in the world -a title that it still holds.įor reference, in September 2021, Coinbase Global Inc (NASDAQ:COIN), the other major exchange, was trading between $4 billion and $5 billion a day. The businessman -who is referred to simply as CZ by the media- earned his fortune thanks to his 90% stake in Binance, founded in 2017. (Binance said the allegations were simply wrong.) Other funds were used to purchase a 55 million private jet and some 62.5 million was directed to CEO Changpeng Zhao’s personal bank account. He launched Binance in July 2017 and, within 180 days, grew Binance into the largest digital asset exchange in the world by trading volume. As of this writing, his fortune has fallen to $11 billion. cryptocurrency exchange binances ceo changpeng zhao is the worlds richest cryptocurrency entrepreneur with 96 billion wealth bloomberg said after estimating. ![]() However, the combination of inflation, the war in Ukraine, sluggish economic growth, as well as falling returns from the stock and crypto markets hit his fortunes. His once mammoth fortune has plunged to $11 billion from $97 billion in the space of five months.Ĭhangpeng Zhao opened 2022 with a fortune that amounted to $80 billion and in mid-January, he had reached $97 billion. ![]() ![]() Binance CEO Changpeng Zhao, once one of the 10 richest men in the world, is making headlines after becoming the person who has lost the most money in history.
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