Binance boss CZ is reportedly worth $96 billion, rivaling Mark Zuckerberg — and that’s without counting his personal crypto holdings

Binance CEO Changpeng Zhao is estimated to be the richest person in crypto.

  • Binance’s Changpeng Zhao is worth $96 billion, according to a new estimate from Bloomberg’s Billionaires Index.
  • This would put “Czechoslovakia” in the ranks of the world’s richest people and not far from Mark Zuckerberg, whose fortune is $ 124 billion.
  • However, the fortunes of cryptocurrencies are difficult to estimate and fluctuate wildly with the prices of digital assets.

Binance founder and chairman Changpeng Zhao – better known as CZ – is worth $96 billion, according to a new estimate from Bloomberg and Billionaires Index.

Such net wealth would place Czechoslovakia among the world’s wealthiest. The $96 billion figure is not far behind Mark Zuckerberg’s estimated $124 billion or $116 billion for Warren Buffett, according to the index.

However, Bloomberg’s estimate does not take into account personal holdings of CZ cryptocurrencies such as Bitcoin and Binance’s private token. Binance coin is the world’s fourth largest cryptocurrency by market capitalization, according to Coinmarketcap.

Bloomberg came up with its estimate based on what little is known about the finances of Binance, the world’s largest cryptocurrency exchange by most estimates.

It estimated that Binance generated $20 billion in revenue last year, using reported spot and derivative exchange volumes and trading fees. Bloomberg believes Gao owns 90% of the company.

His net worth of $96 billion would make Czechoslovakia by far the richest person in crypto. Satoshi, the anonymous creator of Bitcoin, is estimated to be second on the list with $45.8 billion, thanks to his holdings of the world’s largest cryptocurrency.

Sam Bankman-Fried, the 29-year-old founder of the FTX exchange, is second on the list with $15.4 billion. Coinbase CEO Brian Armstrong comes in third place, with a net worth of $8.9 billion.

Read more: Sam Bankman-Fried, founder of FTX, sleeps for 4 hours and multitasks on 6 screens. Insiders explain what the 29-year-old billionaire really looks like — and the tough questions facing his company.

Estimating wealth in the cryptocurrency market which is known for its volatility is a difficult task. Forbes, for example, has a net worth of Czechoslovakia at $1.9 billion, well below Bloomberg’s estimate.

Wealths can change dramatically from day to day, with Bitcoin and other cryptocurrencies dropping regularly or gaining 10% of their value in a single session. Bitcoin hit a record high near $69,000 in November, but was trading at around $42,000 as of Monday.

CZ platform Binance, founded in 2017, has been at the center of the global crypto boom over the past year. On a good day, Zhao said, the exchange is seeing trading volumes of about $170 billion.

But the company is under severe regulatory pressure around the world, as regulators try to gain control of the murky world of cryptocurrency.

For example, the Dutch central bank has said that Binance is not complying with anti-money laundering laws, and the UK has cracked down on the exchange’s ability to provide services to British clients.

Zhao said in July last year that he welcomes regulation and that Binance is pivoting to become a fully regulated financial institution.

Binance did not immediately respond to a request for comment.