The colossal wealth of Changpeng Zhao, the founder of Binance, has soared to astronomical levels in recent times. This meteoric rise in his fortune is mainly attributable to the stratospheric soaring of the Binance Coin (BNB). Indeed, estimates indicate that CZ holds a massive stake of over 60% in the total circulating supply of this crypto.
BNB’s meteoric rise propels CZ to the top of the wealth ladder
According to the latest estimates Forbes, the assets of Changpeng Zhao has reached the astronomical sum of $61 billion. This pharaonic wealth places him 24th among the world’s wealthiest personalities. A large part of this colossal fortune is directly linked to BNB’s massive shareholding by CZ.
The ex CEO of Binance holds approximately 94 million BNB, a colossal share of nearly 64% of the total circulating supply (147 million tokens). This dominance is due in particular to the initial allocation of BNB 80 million to the founding team at Binance’s ICO in 2017, of which 46 million are still controlled by the company.
With BNB’s recent crossing of the $700 mark, setting a new all-time record, the token’s market capitalization has surpassed $100 billion, cementing its status as the third-largest crypto after Bitcoin and Ethereum.
The rise of CZ continue
Despite legal troubles which forced him to serve a prison sentence in the United States, the tycoon has managed to retain almost absolute control over Binance the largest crypto exchange platform, valued at 33 billion, in which he holds an overwhelming 90% stake.
Last year, the intensification of regulation on the crypto sector had heavily impacted the financial situation of CZ CZ’s wealth plummeted by 82%, from $96 billion in January 2022 to just $17.2 billion, relegating it from 11th to 95th place among the world’s wealthiest companies. However, thanks to BNB’s current valuation, CZ has managed a spectacular rebound.
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.
