Zhao Changpeng (Changpeng Zhao)

Zhao Changpeng (Changpeng Zhao)

Biography

2022: Changpeng Zhao is the richest man on the planet in the crypto sector ($96 billion)

In January 2022, Changpeng Zhao became the richest man on the planet among those whose work is connected with. cryptocurrencies The fortune of the founder and CEO of the cryptocurrency exchange Binance is estimated at $96 billion.

This was reported on January 9, 2022 by Bloomberg. It noted that Changpeng Zhao was ahead of Indian businessman Mukesh Ambani (his fortune is $92.9 billion) and is located on the 11th line of the entire rating of the richest people. Previously, the founder and head of the FTX cryptocurrency exchange Sam Bankman-Fried was in the lead in terms of the state among cryptocurrency billionaires - his wealth in 2021 was estimated at $22.5 billion.

Changpeng Zhao's breakthrough is associated with the rapid growth of Binance's business: if in 2020 the exchange earned about $1 billion, then a year later - already $20 billion. According to The Wall Street Journal, the company in the event of a planned initial placement may receive an estimate of $300 billion. Zhao owns about 90% of Binance's shares (data for January 2022).

As the publication clarifies, the real size of Zhao's fortune may be even larger, since the assessment does not include his personal reserves of cryptocurrency - bitcoin and Binance Coin tokens. Earlier, the entrepreneur told how in 2014 he sold his house and invested all the proceeds in bitcoin at around $600. By January 10, 2022, the cryptocurrency rate is at $49,000 per token.

Changpen Zhao himself declined to comment on Bloomberg's calculations, and Binance officials disputed the accuracy of the firm's valuation and the company's creator's capital.

Cryptocurrency is still growing. It is subject to high levels of volatility. Any number you hear one day will be different from the number you hear the next day, Binance pointed out.[1]

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