Changpeng Zhao CEO of Binance Becomes the 11th Richest Person in the World

Lutfi

Changpeng Zhao CEO of Binance Becomes the 11th Richest Person in the World
Changpeng Zhao CEO of Binance Becomes the 11th Richest Person in the World

Rancakmedia.com – Binance CEO Changpeng Zhao, aka CZ, is worth about $96 billion, according to the Bloomberg Billionaires Index. Currently CZ is the richest crypto billionaire in the world. He managed to surpass a number of well-known figures in the technology business as reported by Cryptopotato.

Bobby Lee and investor Ron Cao, who convinced Changpeng Zhao to keep about 10% of his net worth in Bitcoin more than a decade ago, played a critical role in CZ's success.

At that time, Bitcoin was still under attack from various groups. According to the Bloomberg Billionaires Index, CZ will be the 11th richest person in the world in 2022.

The wealth of the Binance CEO has increased dramatically in the previous year from 21 billion US dollars to 96 billion US dollars. Additionally, CZ controls 90 percent of Binance.

For many people in the world crypto, the 44 year old man is a legend. Recently, CZ also established contacts with authorities in Abu Dhabi by introducing the Binance flag to the United Arab Emirates.

Changpeng Zhao CEO of Binance Becomes the 11th Richest Person in the World

The amount of cryptocurrency that Changpeng Zhao owns, on the other hand, remains a mystery. In response to his title as the 11th richest person in the world, CZ took to Twitter to declare that there is no need to worry about rankings, but focus on how many people he can help.

“Don't worry about rankings. Focus on the number of people you can help," tweeted CZ on January 10, 2022.

Changpeng Zhao CEO of Binance One of the Richest People in the World

The founder and CEO of Binance, one of the world's major cryptocurrency exchanges, Changpeng Zhao has entered the ranks of the world's richest people.

Quoted from Channel News Asia, reported on Wednesday (12/1/2022), based on statistics from the Bloomberg Billionaires Index, Changpeng Zhao currently has a net worth of USD 96 billion or around IDR 1.373 trillion (assuming an exchange rate of IDR 14.307 per US dollar) (assuming exchange rate Rp. 14.307 per US dollar).

That Zhao is worth more than Asia's richest man Mukesh Ambani, Facebook founder Mark Zuckerberg, and Google co-founders Larry Page and Sergey Brin is the first time Bloomberg has estimated such a figure.

Zhao's wealth is believed to be significantly greater, considering that the wealth estimate does not include his personal crypto assets, which include Bitcoin and his own company's tokens.

What is the Secret of Success Changpeng Zhao CEO of Binance

Binance's success is one factor in Zhao's extraordinary wealth. BNN's volume and fee study of Binance trading shows that it generated at least $20 billion in profits last year.

About three times as much money was expected to be raised by public business Coinbase Global, which now has a market capitalization of $50 billion.

However, Zhao and Binance disputed the veracity of Bloomberg's estimates of the company's market capitalization and net worth.

“Crypto is still in its infancy,” Binance said in a press release.

“It is susceptible to greater levels of volatility. The numbers you hear every day will be different from the numbers you hear the next day.” Binance went on to say.

Zhao made a quick appearance in Singapore at the Bloomberg New Economy Forum. He reveals the numbers behind the meteoric success of the company he started in 2017.

According to Zhao at the time, Binance had just completed a $170 billion transaction.

In the crypto world, that number is a huge number. Binance typically allows transactions on the next four largest exchanges combined.

Since 2013, the value of digital tokens has increased from $135 billion to $2,1 trillion as of January 7, indicating a significant increase in wealth generated in crypto.

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Lutfi

Hi, let me introduce myself, Lutfi Hulasoh, I am a writer and techno blogger. I started creating a personal blog writing informative articles about the latest trends and developments in technology. My writing covers a wide range of topics, from mobile applications to artificial intelligence, and I can also provide easy-to-understand explanations to help readers understand complex concepts.