CZ’s staggering $89 billion net worth? He says ‘Not So Fast!’
Forbes just dropped its latest billionaires list, and Changpeng Zhao, better known as CZ, landed at a dizzying 21st place with an estimated fortune of $89.7 billion. The guy behind Binance wasn’t exactly celebrating; he quickly started to doubt those numbers.
“Honestly, I don’t think those figures are right – they’re way too high,” he wrote. “And really, I don’t think it even matters. What does matter is how many people we’re able to help.”
Interestingly, Bloomberg’s Billionaires Index put CZ a bit lower, at 26th place, pegging his wealth at $63.8 billion. Both agree on one thing though: experts say Zhao’s personal portfolio has swelled by a cool $10.5 billion just since the start of the year.
A big reason for this massive growth is the surging price of BNB, Binance’s own cryptocurrency. A Forbes report from June 2024 revealed that the founder of the world’s largest crypto exchange owns a whopping 64% of all BNB tokens out there – that’s 89.1 million tokens! CZ himself has said before that 98% of his wealth is tied up in BNB, with another 1.32% in Bitcoin.
In a landmark moment on 6th of October, the price of BNB soared past $1200 for the very first time. As of this writing, it’s trading around $1250, having climbed another 3% in just the last day.
How the crypto community reacted
The news, of course, got everyone talking. A user named Quinten even suggested Forbes was being “conservative” with their estimate. He pointed out CZ’s reported 90% ownership of Binance itself, along with his huge holdings in BNB and Bitcoin.
“You probably know better than I do,” Quinten posted, “but as an outsider looking in, that number actually seems quite believable, maybe even a bit low.”
Another user, Dynamo, offered a sarcastic take:
“The main thing is how much we can manipulate the market to snatch liquidity from everyday investors,” he quipped.
Yet, plenty of others rallied behind CZ. A user called depressivehacks slammed the media, arguing they’re only ever interested in sensational figures, scandals, and who’s richest.
“But who actually writes in-depth pieces about the people who were helped? Oh, right – nobody. Because that doesn’t get clicks. A sad truth, isn’t it?” he lamented.
Another person chimed in, specifying that the Binance founder has apparently assisted 69,360 individuals across four different countries.
Indeed, CZ has been active on the philanthropic front. In March 2024, he unveiled Giggle Academy, an ambitious educational platform designed to provide free learning for students from first to twelfth grade. Just last April, he donated 500 BNB (worth around $600,000) to help people in Myanmar and Thailand who were impacted by an earthquake. And let’s not forget, back in July, the Binance founder threw $10 million behind Vitalik Buterin’s biotechnology project, making several other private contributions to various charities at the same time.
