Binance Founder CZ Trashes Forbes' $110 Billion Net Worth Estimate
Binance founder Changpeng Zhao has disputed Forbes' estimate of his net worth at $110 billion, ranking him among the world's top 20 wealthiest people and above Bill Gates.
The valuation is based on Forbes' estimation that Binance itself is worth around $100 billion, with CZ owning about 90% of the exchange. This would put Zhao's net worth at $99 billion if the entire exchange were sold.
Zhao, however, has called the estimate 'definitely not accurate', citing the fact that crypto prices have fallen by more than 50% this year, including a drop in Bitcoin (BTC) and BNB prices of around 25% over the past year.
In a series of posts on X, Zhao compared his situation to ByteDance founder Zhang Yiming's company, which generates an estimated $150 billion in annual revenue but has a net worth valuation of just $69 billion. He also joked that if he tried to claim a high net worth, Forbes would likely rank him lower or remove him entirely.