Binance CEO Changpen Zhao is rapidly catching up with technology billionaires in terms of net wealth, according to Bloomberg.
The enigmatic boss of Binance is estimated at about $ 96 billion according to article of Bloomberg from 9- January, which takes a closer look at the richest in the crypto space.
This is the first time when the Bloomberg Billionaires Index measures his wealth and that makes Zhao the richest man in Asia if the index
is accurate. Although it was not added to the index at the time of writing, the report states that this wealth ranks it above the current richest man in Asia, the Indian energy tycoon, Mukesh Ambani.
Eleventh richest person in the world
Total net worth of $ 96 billion, Zhao will be ranked as the eleventh richest man on the planet, according to Bloomberg. He has twice the fortune of Alibaba co-founder Jack Ma, who is valued at about $ 40 billion.
Eight of the world’s ten richest people are American technology billionaires. Zhao may soon be among them, as he is not far behind Larry Page and Sergey Brin of Google, who are valued at $ 120 billion each.
Mark Zuckerberg of Facebook is in fifth place with an estimated net worth of $ 124 billion, while Microsoft co-founder Bill Gates is just above it with $ 135 billion. The top spot is held by Elon Musk, who is said to cost an incredible $ 263 billion according to the Bloomberg index. The Winklevoss twins are valued at around $ 5 billion each.
The report adds that Zhao could cost even more if its cryptocurrencies are included:
Zhao’s condition may be significantly more great because the valuation of wealth does not take into account his personal cryptocurrencies, which include Bitcoin and his company’s own token.
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Binance Coin (BNB) was one of the best performers in 2021, jumping 1.265% during the year. Bloomberg estimates that Binance generated more than $ 20 billion in revenue last year by analyzing trade and fees. The news agency states that “Zhao allegedly owns 90% of the company, based on his public statements and regulatory documents in the jurisdictions.”
Zhao himself declined to comment on the story, the report added. In early September, it was reported that CZ said that the IPO in the US will begin in three years.
Binance beat everyone
Binance is the world’s leading spot crypto trading platform. According to CoinGecko, the stock exchange has processed $ 11.5 billion in trading volume in the last 24 hours. The closest competitor in terms of daily volume is OKEx with less than half of that at $ 4.4 billion.
US stock giant Coinbase is ranked fifth in current daily volumes at $ 2.8 billion .
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