The fortune of the founder and CEO of the cryptocurrency exchange Binance Changpeng Zhao is $ 96 billion, reports Bloomberg.
The publication’s valuation is based on the value of Binance, in which Zhao is believed to have a 90% stake. The calculations do not include digital assets belonging to him.
Even so, Zhao turned out to be richer than Indian tycoon Mukesh Ambani and moved closer to co-founders of tech giants, including Mark Zuckerberg, Larry Page and Sergey Brin.
According to Bloomberg, Binance generated approximately $ 20 billion in revenue in 2021. This is about five times the projected figure of the largest American cryptocurrency exchange Coinbase – a publicly traded company worth $ 50 billion.
Binance is the leader in daily trading volume in both the spot and derivatives markets. Its trading volumes exceed the aggregate figure of its next four largest exchanges.
Binance disputed the accuracy of Bloomberg’s estimates of the company’s value and the fortune of its founder.
“Cryptocurrencies are still on the rise. They are subject to high volatility. Any number you hear one day will be different from what you hear the next, ”Binance said.
Zhao previously declined to comment on the size of his fortune.
“I don’t care about wealth, money, ratings,” he told the publication.
Recall that in November 2021, journalists from China Caijing estimated Zhao’s fortune at $ 90 billion, based on the assumption that he owns a 30% stake in Binance.
In March, the Chinese research institute Hurun presented a ranking of crypto billionaires at the end of 2020. Zhao’s wealth was estimated at $ 8 billion – he was second only to FTX head Sam Bankman-Fried ($ 10 billion) and Coinbase CEO Brian Armstrong ($ 11.5 billion).