Net Worth

Changpeng Zhao Net Worth

Changpeng Zhao Net Worth

What is the Net Worth of Changpeng Zhao?

Zhao is the founder and CEO of Binance, the largest cryptocurrency exchange by trading volume in the world. At the end of 2021, the company had over 90 million users and offered markets in over 600 coins. Zhao launched the company in 2017, after being born in China and reared in Canada.

Zhao launched a company that supplied infrastructure and software to exchanges after a year at Blockchain.info in late 2013, before launching Binance in 2017. Binance had become the world’s largest cryptocurrency exchange by 2018. Zhao’s net worth is currently estimated to be $67.5 billion.

Formative Years 

Zhao’s mother was a teacher and his father was an academic when he was born in 1977 in Jiangsu, China. After his father secured a post at the University of British Columbia in the late 1980s, the family moved to Canada.

Changpeng Zhao Career

Zhao began coding at the age of 16 and went on to acquire a computer science degree at McGill University in Montreal. Following an internship in Japan, in 2001, he worked for Bloomberg’s Tradebook in New York, United States.

In 2005, he relocated to Shanghai to work for Fusion Systems, where he developed high-frequency trading software. Following a chat at a poker game in 2013, an interest in bitcoin arose. Subsequently, he obtained a copy of the Bitcoin white paper and began researching the technology.

Zhao’s riches stem from his ownership of Binance, a cryptocurrency exchange. According to its website, Binance is the world’s largest cryptocurrency exchange by trading volume, with more than 90 million members as of the end of 2021, according to Zhao.

The median of annual spot and derivative trading volumes tracked by research sites Coingecko.com and Nomics.com, as well as the average of transaction fees reported on Binance’s website, estimated independently for spot and derivative volumes, yields $19.5 billion in revenue for Binance in 2021. The average enterprise value-to-sales multiple of publicly traded peers Coinbase Global and Voyager Digital is used to value it. Institutional, regulatory, and other concerns have a 25% discount applied to the valuation.

Zhao’s net worth is currently estimated to be $67.5 billion.

Memorable Moments:

  • In 2001, he started his career at Bloomberg Tradebook.
  • In 2005, he relocated to Shanghai to work for Fusion Systems.
  • Bijie Tech, a startup, was launched in 2015.
  • He founded Binance in 2017.

In Conclusion 

Zhao is currently ranked as the richest man in Canada and this is set to be so for a long time considering his role in the digital currency market.

Zhao’s net worth is currently estimated to be $67.5 billion.

The Author

Oladotun Olayemi

Dotun is a content enthusiast who specializes in first-in-class content, including finance, travel, crypto, blockchain, market, and business to educate and inform readers.