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Bloomberg names Binance CEO Changpeng Zhao the wealthiest person in the Cryptocurrency Industry

According to Bloomberg, Binance CEO Changpeng Zhao’s net worth is presently estimated to be $96 billion, making him the wealthiest person in cryptocurrency.

According to the Bloomberg Billionaire Index, he is now worth more than Indian business titan Mukesh Ambani. Of course, who has a net worth of $92.9 billion. So, CZ is also close to such titans as Warren Buffett, CEO of Berkshire Hathaway, and Mark Zuckerberg, CEO of Meta.

Because nothing is public about CEO Zhao’s bitcoin holdings, his fortune could be substantially more.

The cryptocurrency tycoon, who used to work at McDonald’s as a teenager. So, it has remained tight-lipped about the magnitude of his riches. But he states he intends to give away his whole fortune.

According to the Wall Street Journal, if his cryptocurrency behemoth goes public, it could be up to $300 billion.

The exchange’s income is to surpass $20 billion in 2021. Thereby, dwarfing the figures expected from rival Coinbase in the United States.

Binance, on the other hand, questioned Bloomberg’s projections, arguing that cryptocurrency is far too unpredictable to make any realistic predictions.

Aside from being under volatile cryptocurrency pricing. So, the exchange is also under a barrage of regulatory investigation earlier this year.

FTX CEO Sam Bankman-Fried is worth $15.4 billion, while Coinbase CEO Brian Armstrong is worth $8.93 billion.

Elon Musk, the CEO of Tesla, is still the richest person on the planet, with a net worth of $263 billion. Second and third place ($188 billion and $171 billion, respectively) go to Amazon founder Jeff Bezos and French fashion billionaire Bernard Arnault.

Related Posts – Ex-SEC Chair, Jay Clayton Believes Cryptocurrency Industry Is For Long Haul

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.