The CEO and founder of the largest cryptocurrency exchange Binance, Changpeng Zhao, ranked 19th on the list.richest people in the world according to Forbes.
Forbes estimated Zhao's net worth at $65In recent years, the head of Binance has taken a big step forward - in 2021, Zhao ranked 1664 with a capital of $1.9 billion. In 2019, he ranked 1818 on the Forbes list, having $1.2 billion.
Jumping sharply to 19th place, Zhao beat manywell-known billionaires, including the founder of Dell Computers Michael Dell and Charles Koch, the head of Koch Industries. Forbes estimates that Zhao's stake in Binance is at least 70%, which is also significantly more than it used to be, according to his previous Forbes interviews.
In January 2021, a Binance executive told Forbes that he owns roughly 30% of Binance.
“I really don't know how much money I have. It doesn't bother me too much," he told Forbes last summer.
But wait jealous Zhao.Forbes estimated his capital very roughly - the publication's conclusions were based on the statements of "several analysts" and included a rather vague formula. The exchange itself also does not know how things are with the amount of money in Zhao's pockets.
“It is difficult for us to confirm the value of Binance due to market volatility. In addition, it is difficult for us to value Changpeng Zhao's personal assets, ”a representative of the exchange told Forbes by e-mail.
Zhao's relationship with Forbes is complicated - the publication, asalready mentioned, regularly pays tribute to the riches of the crypto-currency businessman. And in 2018, Zhao even got on the cover of the magazine as a unique person who made a millionth fortune from scratch in six months.
However, in November 2020, the exchange filed a lawsuit againstForbes. An article published in the publication "revealing Binance's complex scheme to evade regulators" was called slander. The exchange demanded compensation. Binance Holdings said the Forbes article damaged the company in the millions of dollars.
By February 2021, Zhao had cooled down a bit andthe exchange dropped its defamation lawsuit filed against the news outlet and two of its journalists, and did so without making big statements, but with a comment to the media:
“Binance still firmly believes that the articleForbes dated October 29, 2020 is false and misleading. As the company stated in its complaint against Forbes, Binance is committed to complying with all applicable laws and regulations, and Forbes claims to the contrary are without merit. However, in the interest of providing the best possible service to its users – especially during this time of unprecedented growth in cryptocurrencies – the company is not currently litigating.”
And in February of this year, Binance invested$200 million in Forbes. Apparently, having abandoned claims to the publication in court, the exchange decided to act from the inside. Well, or just wanted to publish more news about the crypt.
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