CZ Denies Forbes' Billion-Dollar Estimate Amid Crypto Price Plunge

Binance founder Changpeng Zhao, also known as CZ, has disputed Forbes' estimate that his net worth is $110 billion, ranking him above Bill Gates on the annual World's Billionaires list.

Forbes based its valuation on Binance itself, pegging it at around $100 billion and attributing a significant portion of Zhao's net worth to the exchange.

Zhao pushed back against the estimate, calling it 'definitely not accurate' and noting that Bitcoin (BTC) and crypto prices have fallen more than 50% this year, affecting his holdings.

In a series of posts on X, Zhao compared his situation to ByteDance founder Zhang Yiming's company valuation, highlighting the difficulty in accurately valuing privately held crypto companies like Binance.