Bloomberg: Binance chief’s fortune falls 82%

The net worth of the Binance CEO Changpeng Zhao (CZ) has fallen 82% — from a peak of $96.6 billion in January 2022 to $17.3 billion at present. This is according to рейтинг миллиардеров Bloomberg.

The head of the trading platform ranks 95th on the list.

In annual terms, Zhao’s fortune rose by 37% or $4.69 billion. The total could have been higher, but between October 24 and 26 it slumped by more than $12 billion.

The publication obtained these figures from Zhao’s controlling stake in Binance. Bloomberg’s estimates put Binance’s 2023 revenue at $7.9 billion, reflecting the average volume of fees from spot and derivatives trading.

The calculations also take into account Zhao’s investments in Bitcoin and BNB.

Bloomberg attributes Zhao with 90% of Binance’s shares, based on his public statements and corporate documents. He also owns around 86% of Binance.US, the U.S. subsidiary, valued at $4.7 billion during a March 2022 funding round.

However, in June 2023 the SEC filed a lawsuit against the platform and Zhao, alleging 13 counts, including selling unregistered securities. Clients of the exchange lost the ability to deposit dollars. Later, the currency’s support was restored, but, according to Bloomberg, the CEO’s fortune declined by $1 billion.

The page’s accuracy confidence rating sits at its lowest. The publication also recalled that in 2022 a Binance spokesperson called the assessment of the company’s finances and its leadership “incorrect and far from reality”.

In April, Bloomberg valued Zhao’s assets at $28.2 billion. He was then third on the Bloomberg list of the ’25 Financial Titans’. The annual revenue of the largest crypto exchange exceeded $12 billion.