Changpeng Zhao’s net worth has surpassed that of Asia’s richest billionaire Mukesh Ambani even though Bloomberg has excluded his personal crypto holdings such as BTC and the exchange’s internal BNB tokens.
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Changpeng Zhao, CEO of Binance, tops the list of the richest crypto billionaires with an estimated net worth of $96 billion.
According to Bloomberg, CZ ranks 11th among the richest people in the world as Binance retains its position as the largest cryptocurrency exchange in terms of trading volume.
CZ, 44-year-old crypto entrepreneur, has overtaken Asia’s richest billionaire Mukesh Ambani even though Bloomberg has ruled out his personal crypto holdings like Bitcoin (BTC) and internal tokens Binance Coin (BNB) of the exchange.
The industry is growing.
– CZ Binance (@cz_binance) October 26, 2021
According to Bloomberg estimates, CZ is second only to Oracle co-founder Larry Ellison, whose net worth currently leads around $11 billion. While this is the first time Bloomberg has estimated CZ’s fortune, Binance’s growth trajectory signals its ability to outstrip tech giants like Meta’s Mark Zuckerberg, Google co-founders Larry Webpage, and Sergey Brin .
Currently, Zuckerberg, Site and Brin rank 5th, 6th and 7th respectively while Tesla CEO Elon Musk tops the list of billionaires with an estimated fortune of $263 billion.
Data from Cointelegraph Marketplaces Professional and TradingView confirm that the price of BNB has increased by more than 1,300% in the past year alone. If calculated, CZ will become the first crypto entrepreneur to make the list of the top 10 billionaires.
Related: Ex-Binance execs say $300 billion exchange: Report
The success of Binance globally can be attributed to CZ’s constant efforts in amassing licenses to operate across all jurisdictions globally. Despite regulatory hurdles, Binance maintains ongoing partnerships and acquisitions to continue to lead in the crypto trading space.
Most recently, the crypto exchange completed the acquisition of Swipe, a popular crypto Visa card provider that operates in over 70 million locations worldwide. Additionally, Binance also launched a $1 billion initiative to fast-track the growth of the Binance Smart Chain ecosystem and drive mainstream adoption in the financial technology sector.