Globally famous cryptocurrency exchange Binance CEO Changpeng Zhao has joined the list of the richest people in the world with an estimated fortune of $96 billion, according to the Bloomberg Billionaires Index. He occupies the 11th place in the ranking.
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Bloomberg highlighted that the value of Zhao’s fortune could be even higher, as the index did not consider the Chinese entrepreneur’s personal gains in cryptocurrencies.
The 44-year-old Chinese is second only to Mukesh Ambani, the richest man in Asia, with an estimated net worth of US$93.3 billion.
Binance, the world’s largest cryptocurrency exchange, has been banned from China, its home country. In addition, the company is being investigated in other countries, within the regulatory framework.
In 2021, Binance generated revenue of about $20 billion, according to Bloomberg analysis, and grew by about 1,300%.
Changpeng Zhao’s Career
Changpeng Zhao holds a degree in computer science from McGill University in Montreal. He was born in Jiangsu, China, but moved early to Vancouver, Canada.
The Binance CEO had his first contact with the cryptocurrency world in 2013, after hearing about Bitcoin from a friend. From then on, the Chinese gave a new direction to his career and, consequently, his personal life.
In 2015, after working at a blockchain company, he founded BijieTech, a tech startup that dabbled in creating systems for exchanges. In 2017, Zhao founded his own exchange, Binance.
Despite its success, Binance faces some barriers with regulatory bodies in countries such as the United States, Italy, Japan, Germany and Brazil.
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