Who is Changpeng Zhao? Crypto Wizard Richer Than Facebook CEO Mark Zuckerberg

Changpeng Zhao, the Chief Executive Officer of the world's largest crypto exchange Binance, is currently the 11th richest person in the world. The richest crypto billionaire has a net worth that rivals the sums amassed by Facebook CEO Mark Zuckerberg and other tech billionaires like Elon Musk, Jeff Bezos and Bill Gates. According to a report released by Bloomberg, Zhao's net worth is around $96 billion and could be even higher since Bloomberg did not account for his personal holdings of cryptocurrencies such as Bitcoin and Binance Coin in their latest report.

According to reports, the estimate is based on Zhao's stake in the crypto exchange Binance. Reports suggest that Binance in 2021 generated over $20 billion in revenue and 90% of the firm's shares belong to Zhao, according to Binance's regulatory filings review.

Moreover, if we calculate Zhao's personal crypto holdings, his fortune could be worth somewhat at par with Gates', who has a $135 billion net worth and is the world's fourth-richest person, or even more than Facebook CEO Zuckerberg, the fifth-richest person in the world with a whopping $124 billion.

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While the crypto wizard did not comment on the size of fortune he acquires from his personal crypto holdings, it has been learned that the majority of his net worth comes from his personal crypto holdings as he had disclosed to the Associated Press in November 2021.

Cryptocurrency pioneer Changpeng Zhao, 44, is also known as CZ to cryptophiles. He is becoming a fixture in the UAE (United Arab Emirates) as he has been meeting Abu Dhabi's royalty, eager to set up Binance exchanges in the country, according to reports.

Reports suggest that Zhao had bought an apartment in Dubai and hosted dinners near the world's tallest building Burj Khalifa, and on the city's Palm Jumeirah island that makes him the most prominent personality in UAE's booming crypto sphere.

Recently, Zhao's Binance signed an agreement with Dubai World Trade Centre Authority (DWTCA) to set up a new industry hub for Global Virtual Assets. "Binance will help advance Dubai's commitment to establishing a new international Virtual Asset ecosystem that will generate long-term economic growth through digital innovation," according to an official release on Binance.com.

This article was first published on January 10, 2022