CZ's net worth

By   |   Updated 1st August 2022

Binance CZ Changpeng Zhao's Net Worth

Chinese-Canadian Changpeng Zhao (CZ) has a net worth estimated to be approximately $10 billion, but it could be as high as $100+ billion depending on the price of Bitcoin and BNB.

Zhao was born in China, grew up in Canada, and now lives in Singapore.

He sold his apartment in Shanghai in 2014 and poured it into starting crypto exchange Binance in 2017.

Binance has become a massively powerful global crypto exchange and a labyrinth of crypto services and apps with its own BSC smart chain, BUSD stablecoin, native Binance Coin (BNB), crypto card, and is the parent company of many subsidiaries.

How CZ got started

When his parents moved to Canada from China the young Zhao worked at McDonalds and refereed Volleyball matches.

CZ initially started in the workforce through an internship at the Tokyo Stock Exchange.

He worked on creating software that helped traders to match their orders during a trade.

Zhao then moved on to develop futures trading software on behalf of Bloomberg Tradebook.

Back in China, he went on to found his own company in Shanghai called Fusion Systems - a form of trading system that was mainly used by brokers for high-frequency trading.

The venture was rather successful and put him in the right position to meet critical players in the financial industry.

In 2013, he took his software building expertise and expanded it to work on a variety of crypto projects.

For a short time, he was even listed as the CTO of the crypto exchange OKCoin.

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How did Changpeng Zhao build his net worth?

Seeing the rise of crypto on the horizon, he sold his property in Shanghai and used the proceeds to purchase Bitcoin.

In 2015, Changpeng Zhao launched BijieTech, which is an exchange development company that offers Asian exchanges cloud-based trading services.

In 2017, he went on to launch Binance and left BijieTech behind.

His rise to affluence gained traction when Binance was able to drum up $15 million dollars worth of support upon the initial coin offering.

A little over a week later the trading commenced.

Amazingly, less than a year later the Binance exchange was the largest in the world by volume trades.

His net worth now ranges between $10 Billion and $100+ Billion depending on how the crypto market is going.

Zhao has revealed that he keep 95% percent of his wealth as crypto, the majority of which are BNB coins, with the remaining in Bitcoin. Only 5% as fiat money or other assets.

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FAQs

How rich is Binance founder Changpeng Zhao?

His net worth is volatile. CZ's net worth is somewhere between $10 Billion and $100 Billion. He retains a 30% stake in his company Binance.

Is Changpeng Zhao a crypto whale?

Binance's CZ is a crypto whale, holding 95% percent of his wealth as BNB and Bitcoin.

Disclaimer: Net worth figures published on Finty are estimations only. We do not accept any liability for inaccuracies or errors in our estimations. Our editorial team look for publicly available information about people’s net wealth from a variety of sources. Find out more about how we calculate people’s net worth.

Image: Wikimedia