CZ Slams Forbes' $110 Billion Net Worth Estimate as 'Flawed Logic'

Binance's CZ has disputed Forbes' estimate of his net worth at $110 billion, claiming it is based on flawed logic. The estimate would place him above Bill Gates in the annual World's Billionaires list.

Forbes valued Binance itself at around $100 billion, with Zhao owning about 90% of the exchange. This valuation is based on conversations with industry insiders and comparisons with publicly traded rival Coinbase.

Zhao has pushed back against the estimate, pointing out that crypto prices have fallen more than 50% this year. He also noted that his net worth would need to increase by $47 billion from last year to reach the estimated figure of $110 billion.

Zhao compared his situation with ByteDance founder Zhang Yiming, whose company generates an estimated $150 billion in annual revenue but is valued at only $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.