It has been stated that Changpeng Zhao, the founder and CEO of the world’s largest crypto exchange Binance, is the richest person among those “living outside of China but of Chinese descent” with a fortune of $ 90 billion.
In the research conducted by the Chinese magazine Cijing, it was stated that CZ’s wealth surpassed Tiktok and Tecent currencies.
Although CZ’s share in Binance was calculated as 30% in the calculations made in the said research, Colin Wu reminded that this ratio is at least 90%.
According to statistics from China Caijing magazine, the founder of Binance, Zhao Changpeng, is worth $90 billion, making him the richest man in Ethnic Chinese and among the top ten richest people in the world, surpassing the founders of tiktok and tecent. pic.twitter.com/vNIOEfkDzr
— Wu Blockchain (@WuBlockchain) November 30, 2021
CZ recently spoke to the Associated Press and shared what his wealth consists of. Accordingly, the majority of CZ’s wealth comes from his crypto portfolio. CZ, who has a large amount of Bitcoin and BNB, stated that he also has shares in Binance. Standing out with his humble attitudes and lifestyle, CZ also stated that he would donate 90% of his wealth.
Making a comment after these news, CZ stated that valuations on paper do not make much sense, and the most important thing is liquidity.
If I sell 0.01% of the company equity to someone for $1 dollar, then the company is worth $10,000.
If I issue a coin with a 1T supply, and sell 1 of them to someone for $1 dollar, then I have a $1 trillion dollar coin.
Valuations without liquidity doesn’t mean much.
— CZ 🔶 Binance (@cz_binance) November 30, 2021