Changpeng Zhao, widely known as CZ, has returned to the global wealth rankings, with a net worth now surpassing Bill Gates, according to new estimates.
The Binance founder is valued at around $110 billion, placing him 17th on the global billionaires list and making him the richest person in crypto.
The surge in Zhao’s wealth comes roughly 17 months after he left his role as Binance CEO following a U.S. investigation.
Zhao pleaded guilty to failing to maintain an effective anti-money laundering program, paid a $50 million fine, and served four months in a California prison while Binance paid $4.3 billion in penalties.
Despite those events, the core of Zhao’s fortune, his ownership in Binance, has grown significantly.
https://coinedition.com/binance-founder-cz-surpasses-bill-gates-with-110-billion-net-worth/
Posted by LavishlyRitzyy
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tldr; Binance founder Changpeng Zhao (CZ) has surpassed Bill Gates in net worth, reaching $110 billion, making him the richest person in crypto and 17th on the global billionaires list. Despite a U.S. investigation and penalties, Binance remains the largest crypto exchange with a 38% market share and significant revenue. CZ’s wealth primarily stems from his 90% ownership in Binance, valued at $100 billion. He has questioned reports of his rising net worth amid a declining crypto market, highlighting Binance’s revenue growth during market volatility.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Walth $110 billion … paid $ 50 million fine… yea…
And he only passed Bill Gates because Gates donates most of his wealth because he says he can’t do anything useful himself with ALL of it. The rest he uses no only for himself but also for research… That ofc makes HIM the evil who just wants to vac everyone with microchips…