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Forbes Places Changpeng Zhao As The 21st Richest Man On Earth
According to the latest rankings released by Forbes, Binance founder Changpeng Zhao has a net worth of $87.3 billion. The new update ranks the cryptocurrency executive as the 21st richest person on the planet, behind Françoise Bettencourt Meyers & family, and above Thomas Peterffy.
However, Zhao has denied Forbes’ claim that his net worth is inching toward the $90 billion mark, noting that the true figure is much lower. The bulk of Zhao’s wealth comes from his ownership stake in Binance, the world’s largest cryptocurrency exchange by trading volume.
Furthermore, a significant portion of Zhao’s wealth stems from his BNB holdings, with the asset surging to set a new all-time high of over $1,200. While Zhao has not publicly revealed his BNB holdings, estimates suggest that the Binance founder holds over 90 million BNB.
Meanwhile, Zhao also has a significant stake in YZi Labs, an investment vehicle with a keen focus on Web 3, AI, and biotechnologies. Currently, YZi Labs manages over $10 billion in assets, with its portfolio comprising more than 230 projects.
 
Zhao added in his disclaimer against Forbes’ ranking that an accurate estimate of his wealth does not matter in the grand scheme of things. For the cryptocurrency executive, the most important thing is continuing a charitable streak to improve lives worldwide.
“I don’t believe this is accurate (way too high),” said Zhao. “I also don’t think it matters. What matters is how many people we can help, and by how much.”
The Binance founder has a lengthy history of involvement with charities, having famously donated over $600,000 worth of BNB to support earthquake relief. Currently, CZ is involved in Giggle Academy, an initiative aimed at promoting free education while pledging to donate over 99% of his wealth to charity.
In 2023, Zhao stepped down from his role as Binance CEO after pleading guilty to violating U.S. anti-money laundering (AML) rules. As part of a plea deal, Zhao was sentenced to four months in prison, significantly less than the three years sought by federal prosecutors..
Source: https://zycrypto.com/binance-founder-changpeng-zhao-rejects-forbes-87-billion-net-worth-claim/