Changpeng Zhao (CZ), a Canadian-Chinese entrepreneur and CEO of Binance, has been ranked 11th on Bloomberg's Billionaires Index with a net worth of $96.9 billion — making him the wealthiest ethnic Chinese individual globally and Canada's richest person.
The Meteoric Rise of Changpeng Zhao and Binance
- Crypto Empire: Zhao owns 90% of Binance, the world's largest cryptocurrency exchange by trading volume. The platform's 2021 sales exceeded $20 billion — triple Coinbase's estimated revenue.
- Excluded Crypto Holdings: His $96.9B net worth doesn't include personal cryptocurrency assets (Bitcoin, Binance Coin), suggesting significantly higher actual wealth.
- BNB's Stellar Growth: Binance Coin's value surged 1,300% in 2021 alone.
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From Vancouver to Global Crypto Dominance
Born in Jiangsu, China, Zhao moved to Vancouver in 1987. After earning a Computer Science degree from McGill University, his crypto journey began during a 2013 poker game discussion. By 2018, Binance — founded in 2017 and headquartered in the Cayman Islands — became the world's leading crypto exchange.
Wealth in Perspective
Zhao's current net worth could purchase:
- 53.3 million ounces of gold
- 1.14 billion barrels of crude oil
- 1.43 million median US households' annual income
He ranks just behind Elon Musk ($277B) and Jeff Bezos ($195B) among global billionaires.
Bloomberg's Top 11 Billionaires (2022)
| Rank | Name | Net Worth | Key Affiliation |
|---|---|---|---|
| 1 | Elon Musk | $277B | Tesla/SpaceX |
| 2 | Jeff Bezos | $195B | Amazon |
| 3 | Bernard Arnault | $176B | LVMH |
| 4 | Bill Gates | $139B | Microsoft |
| 5 | Larry Page | $130B | |
| 11 | Changpeng Zhao | $96.9B | Binance |
Other notable Canadians:
- Tobi Lütke (Shopify founder): Ranked #235
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FAQ: Changpeng Zhao's Wealth Journey
Q: How did CZ build his crypto fortune?
A: Through Binance's explosive growth since 2017, strategic Bitcoin investments, and creating Binance Coin (BNB).
Q: Why isn't his crypto included in net worth calculations?
A: Cryptocurrency holdings are volatile and difficult to value precisely per Bloomberg's methodology.
Q: What makes Binance different from competitors?
A: Its global reach, high liquidity, and innovative ecosystem (including BNB token utilities).
Q: How does Zhao's wealth compare to traditional tech billionaires?
A: At $96.9B, he surpasses legacy tech leaders like Larry Ellison but trails Musk/Bezos.
Q: What was Zhao's educational background?
A: Computer Science degree from McGill University — crucial for understanding blockchain technology.
Q: Are there other wealthy Canadians in crypto?
A: Shopify's Tobi Lütke (ranked #235) is the next highest Canadian billionaire.