|5 feet 7 inch
|Country of Origin
|Source of Wealth
You will work till you die if you don’t figure out how to earn money while you’re sleeping. Chanpeng Zhao took this saying seriously, and the rest is history. Today, we will learn 4 secrets of Changpeng Zhao’s net worth and how he collected such a massive fortune.
Zhao is the richest person in cryptocurrency, who has amassed money and recognition as the founder of the world’s largest cryptocurrency trading company, Binance. So grab a coffee, and let’s explore Changpeng Zhao’s fortune and secrets together.
Journey to the Top
Changpeng, the self-made crypto billionaire, was born in 1977 in Jiangsu, China. He was born into a family that was professionally involved in the education sector. Changpeng Zhao’s mother was a schoolteacher, and his father was a professor.
During China’s Cultural Revolution, Shangpeng Zhao’s father, Shengkai, was accused of being a pro-bourgeois intellectual and sent into temporary exile. Later in 1984, Shengkai immigrated to Vancouver, Canada, to pursue his doctorate at the University of Vancouver, and his family joined him in 1989.
The crypto genius completed high school as well as his university in Canada. Shortly after he graduated from the university, he had a flourishing career at the Tokyo Exchange and Bloomberg’s Tradebook.
Even though the crypto king had a promising future working in the company, he left the corporate world and moved to Shanghai in 2005, where he partnered with a trading system company named Fusion Systems. Yet again, he left the company in December 2013.
Furthermore, four years later, in July 2017, Zhao founded Binance and still holds the title of founder. It helped him establish himself in the crypto world and earn significantly.
Binance is the World’s Leading Crypto Company
Binance is a global crypto exchange company that gave Changpeng Zhao a position alongside other billionaires. Most of Changpeng Zhao’s fortune comes from his controlling stake in Binance Holdings. Also, within six months of its establishment, Binance transitioned its CEO from just being an entrepreneur to a billionaire.
Moreover, within just four years of its establishment, the company had gained over 90 million users worldwide. Furthermore, the exchange company handles around $76 billion in daily transactions. Just talking about the profit, in 2021, Binance earned $20 billion, which exceeded the sum of revenue earned by its top four competitors in the same year.
For the most part, Binance was successful and thriving until October 2022. The year 2022 was unpleasant for Binance because the company underwent a blockchain hack. It resulted in a loss of $570 million, but the company managed to keep its customers out of the crisis.
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Before Being Involved in Crypto, Changpeng Had Already Engaged in a Variety of Jobs
Changpeng worked a number of occupations before getting into cryptocurrency. He had started working at the age of 14 doing odd jobs, which involved cooking and doing chores at McDonald’s, being an attendant at Chevron gas station, and serving as a referee for volleyball matches.
Later on, after finishing his university degree, the crypto expert shifted from working in corporate jobs to crypto, eventually becoming the founder and CEO of Binance. Quickly after cryptocurrency blew up, Changpeng Zhao’s net worth skyrocketed. And now he stands above all the crypto whales as the wealthiest person in the crypto industry.
Changpeng Zhao’s Net Worth – $10.5B
As mentioned above, Changpeng Zhao is a self-made billionaire through crypto. To be exact, according to Bloomberg, Changpeng Zhao’s wealth effortlessly exceeds $10 billion, reaching $10.5 billion. The crypto genius stands among the world’s richest people, ranking as the 167th richest person in the world.
Even after being successful, the billionaire is still a down-to-earth person and contributes back to society. By sharing his ideas and knowledge in interactive sessions with the next generation, he has encouraged them to invest and gain from the industry.
Lifestyle and Assets
Zhao earned most of his affluence by controlling his stake in Binance. Being one of the richest people in the world, it is safe to assume that he lives a blissful and comfortable life, fulfilling almost all of his family’s desires. Although he has yet to reveal his assets, the billionaire might have added some supercars or luxurious mansions to his collections. We hope that he will reveal his assets soon.
Plus, there is no doubt that even after his retirement, Zhao will have an envious retirement life with the wealth accumulated through his career. We wish him all the best in future endeavors, and, hopefully, Changpeng Zhao’s wealth further ascends.
Trivia And Facts
- More than two-thirds of the volume handled by centralized crypto exchanges in 2022 was executed on Binance’s spot market, worth $5.3 trillion.
- Binance was founded in July 2017 by Zhao, who raised $15 million in an initial coin offering.