Binance CEO Changpeng Zhao topped the ranking of the wealthiest ethnic Chinese according to China Caijing, ahead of the founders of Nongfu, ByteDance (TikTok) and Tencent. The magazine оценил his net worth at 573.3 billion yuan ($90 billion).
In calculating, the publication used Zhao’s 30% stake in the Bitcoin exchange, based on Forbes data. On November 11, WSJ valued the company at $300 billion.
In October, Forbes itself indicated that the CEO’s personal wealth amounts to $1,9 млрд.
There is no official information about Zhao’s stake in Binance. Moreover, he has repeatedly said that he holds some amount of BTC and BNB.
In May, in exclusive ForkLog interview, the exchange’s CEO called his personal fortune ‘a very subjective indicator’.
“This is not money in the account. I personally don’t hold dollars in the bank at all. When talking about the founder’s wealth, it’s about his stake or crypto portfolio. And there are many exceptions”, Zhao noted.
In November, one of the crypto community on Twitter wrote that FTX CEO Sam Bankman-Fried is “not the richest in the world”. In response, The Block analyst Larry Cermak mentioned Changpeng Zhao.
I’m not even joking about this lmfao I don’t think people realize how much of Binance equity he holds. Mostly illiquid but then you add BTC and BNB holdings and it’s wild
— Larry Cermak (@lawmaster) November 14, 2021
“I don’t think people realize how much of Binance’s equity belongs to him. Mostly illiquid, but then you add BTC and BNB holdings, and it’s colossal,” wrote Cermak.
Another Twitter user noted that Zhao’s personal fortune should be “much larger” than the media-reported $2 billion.
Yea that’s two orders of magnitude wrong
— Larry Cermak (@lawmaster) November 14, 2021
“Yes, that’s a profound misconception,” the analyst replied.
In March, Hurun, a Chinese research institute, presented the ranking of crypto billionaires based on the 2020 results. The wealth of the Binance chief was valued at $8 billion — he trailed only Sam Bankman-Fried ($10 billion) and Coinbase CEO Brian Armstrong ($11.5 billion).
In late November, Bloomberg reported that Zhao bought property in crypto-friendly Dubai.
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