Binance CEO May Have More Money Than Warren Buffett

The cryptocurrency boom not only benefited millions of small investors who made a profit buying and selling these assets, but also the entrepreneurs behind the world’s leading exchanges that enable trading, such as Changpeng Zhao, founder and current CEO of Binance.

According to a recent estimate of Bloomberg for his billionaires index, the 44-year-old entrepreneur would have a fortune of around USD 96 billion, taking into account only your Binance holding.

In this way, he would already be richer than Mukesh Ambani, the wealthiest man in India; Amancio Ortega, the owner of the Inditex Group; Carlos Slim, the Mexican billionaire, and Jim Walton, of the Walmart empire. All with decades of experience in the corporate arena.

While Changpeng Zhao’s fortune is shocking, personal holding of cryptocurrencies is not yet contemplated, which could raise his net worth even higher to rival true titans of the industry such as Warren Buffett or Larry Ellison, among others, since it is not known if he bought bitcoin or ether when they were worth just a few dollars, for example.

To perform the financial calculation, Bloomberg assumed that Zhao owns about 90% of Binance and estimated the revenues based on the volumes of spot trading, derivatives and announced rates.

If the information is accurate, Changpeng Zhao would be the owner of the world’s richest cryptocurrency exchangefollowed by Sam Bankman-Fried, from FTX, with $ 15.4 billion; and Brian Armstrong of Coinbase, with $ 8.9 billion.

These unimaginable figures show the potential of the industry and allow us to visualize who will be the leaders of tomorrow, with a ranking of the richest people in the world full of technological entrepreneurs capable of managing real empires.

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Helen Hernandez is our best writer. Helen writes about social news and celebrity gossip. She loves watching movies since childhood. Email: Phone : +1 281-333-2229

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