Changpeng Zhao's fortune could be significantly larger, as the wealth estimate doesn't take into account his personal crypto holdings.
A former worker at McDonald's who is also a software developer has practically overnight entered the ranks of the world's wealthiest people. Cryptocurrency pioneer Changpeng Zhao also known as CZ is quickly becoming a fixture in the United Arab Emirates.
International media reports suggest that Changpeng Zhao has been meeting with royalty in Abu Dhabi and they are eager to bring his Binance exchange to the country. CZ, 44 has become the most prominent personality in the nation's booming crypto scene.
How CZ is becoming prominent
CZ has taken up an apartment in Dubai and hosted dinners near the Burj Khalifa and on the city's Palm Jumeirah island.
Changpeng Zhao's net worth is USD 96 billion, according to the Bloomberg Billionaires Index.
It is the first time Bloomberg has estimated his fortune, which exceeds Asia's richest person, Mukesh Ambani.
His fortunes also exceeds rival tech titans including Mark Zuckerberg and Google founders Larry Page and Sergey Brin.
Zhao's fortune could be significantly larger, as the wealth estimate doesn't take into account his personal crypto holdings.
This includes Bitcoin and his firm's own token. The so-called Binance Coin surged roughly 1,300% last year.
In November, a journal reported that former executives estimated the company could be worth as much as USD 300 billion.
That would make Zhao even richer than Elon Musk, currently the world's wealthiest person and Jeff Bezos.
Binance generated at least USD 20 billion of revenue last year, according to a Bloomberg analysis of its trading volume and fees.
The thorns
US Department of Justice and Internal Revenue Service are investigating whether Binance Holdings Ltd is a conduit for money laundering and tax evasion.
Binance's future may hinge on whether it can reconcile with the world's regulators and find a welcoming location to establish its headquarters.
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