Binance’s Founder, CZ’s Fortune Slashed By $12bn

Binance’s Founder, CZ’s Fortune Slashed By $12bn
  • PublishedOctober 27, 2023

Binance co-founder and CEO Changpeng “CZ” Zhao has seen his net worth slashed by $11.9 billion amid falling trading volumes at his exchange.

Yesterday, the Bloomberg Billionaires Index cut Binance’s revenue estimates by 38% amid a slump in exchange volumes which knocked Zhao down to 95th place on the rich list.

Zhao’s net worth is now a paltry $17.3 billion, registering an 82% drop from its $96.9 billion peak in January 2022, where he was ranked 11th among the world’s richest people.

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