Bloomberg ranks Binance's head among the top 3 new "financial titans"
The head of Binance, Changpeng Zhao was ranked third in the list of the rich by Bloomberg with a fortune of $28 billion
According to Bloomberg experts, Changpeng Zhao's fortune is estimated at $28.2 billion. Zhao himself denied the estimate
The head of Binance, Changpeng Zhao joined the list of the richest people in finance according to Bloomberg. According to the agency, Zhao's fortune amounts to $28.2 billion.
As of March 23, 2023, Zhao is third on the publication's list of 25 new "financial titans" who have soared to the top of the list of the rich over the past decade. The list did not include those who were at least in the top 300 richest people in the world in 2013 or who inherited a significant portion of their wealth, as well as those who have already left business management and people over the age of 70.
Journalists estimated Zhao's fortune, most of it from the Binance exchange, at $28.2 billion. The article also cited increased scrutiny of his platforms by regulators after the collapse of FTX and pointed out that the bankrupt exchange was a competitor to Binance.
Zhao himself refuted the figures, writing on his Twitter page that he "doesn't have anywhere near that much [money]." Zhao also assured that he had never considered FTX as a competitor. According to CZ, Binance "welcomes more well-run exchanges" in the crypto industry.
A year ago, Forbes magazine estimated CZ's fortune at $65 billion. However, "cryptowinter," lawsuits, bankruptcies, and a drop in asset values in 2022 have severely damaged the industry, and as of March 10, 2023, Zhao's capital was already valued by the publication at $10.5 billion.