Founder of Binance, CZ, Sees Wealth Surge
The net worth of Changpeng Zhao, founder of Binance, has increased by nearly $25 billion in 2023.
His estimated net worth now stands at $37.2 billion.
This substantial increase is largely due to his majority stake in Binance.
Wealth Surge for CZ
In 2023, Changpeng Zhao, better known as CZ, experienced a significant surge in his fortune. According to Bloomberg’s Billionaires Index, his wealth grew by nearly $25 billion.
It is important to note that this rise is mainly attributed to his majority ownership of Binance, recognized as the world’s largest and most utilized cryptocurrency exchange platform.
Furthermore, CZ also holds Bitcoin and BNB, the native cryptocurrency of Binance. However, it should be noted that these assets are not included in Bloomberg’s estimation.
In total, Changpeng Zhao’s fortune is now estimated at approximately $37 billion, ranking him as the 35th wealthiest person in the world.
Changpeng Zhao and Binance: A Billion-Dollar Affair
CZ recently pleaded guilty to charges of money laundering violations and resigned as CEO of Binance. He has agreed to pay $50 million in addition to the $4.3 billion fine imposed on Binance by US authorities.
Despite these legal challenges, his wealth has continued to grow, highlighting the significant impact and influence of Binance in the cryptocurrency sector. However, CZ’s fortune, although reaching its peak in 2022, remains below its almost $97 billion high point.
