Binance founder Changpeng Zhao, known as CZ, has reportedly joined the upper echelons of the world’s wealthiest after Forbes estimated his net worth at about $110 billion. The figure places him 17th on the global billionaire list, ahead of Bill Gates whose wealth is around $108 billion. The rise is largely attributed to Binance’s mounting value, with Forbes valuing the company at roughly $100 billion and CZ reportedly owning about 90% of it. Binance remains the largest crypto exchange by market share, accounting for about 38% and handling more than $30 trillion in annual spot and derivatives trading.
The Binance ecosystem has expanded around its own BNB Chain, with the network’s token market cap around $88 billion. An irony is that CZ was jailed less than 17 months earlier after admitting weaknesses in Binance’s AML controls and paying a $50 million fine, followed by a four-month stint in California. Binance later settled a broader agreement worth about $4.3 billion. Under President Donald Trump’s administration, Binance accepted USD1 as payment for the World Liberty Financial project, boosting its profile.
In October last year, Trump publicly pardoned CZ; however, regulatory probes remain, with reports of Iran-related transactions which Binance has denied. Forbes notes that the crypto sector is rewriting the wealth rankings. CZ remains the wealthiest figure in the cryptocurrency industry.
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