Changpeng Zhao is the founder of the cryptocurrency exchange Binance and he is one of the wealthiest men in the world nowadays. Changpeng Zhao is a Chinese-born Canadian businessman who founded a company in the year of 2017 and it has gone on to become the biggest crypto-exchange platform around the world.
Since the past few months, the market of crypto has taken a hit with almost all platforms and traders suffering from losses. Hence Zhao also lost massive wealth and so his net worth has been decreased effectively. So keep scrolling down and read out this entire article to know more about Changpeng Zhao’s net worth.
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Who is Changpeng Zhao?
Changpeng Zhao is a Chinese-Canadian entrepreneur and industrialist who is best known as the founder and chief executive officer of Binance, one of the largest cryptocurrency exchanges. Born in Jiangsu, China in 1977, he migrated to Vancouver, Canada when he was 12 years old.
Before he began his career in finance and technology, Zhao studied computer science at McGill University in Montreal, Canada. In 2005, he established Fusion Systems, a developer of high-frequency trading systems for brokers. After discovering Bitcoin in 2013, Zhao’s interest in cryptocurrencies grew, and in 2017 he launched Binance, which rapidly became one of the most popular exchanges.
What is Changpeng Zhao’s Net Worth?
As of April 2023, Changpeng Zhao has an estimated net worth of around $4.5 billion, however, it is considerably lesser than his actual net worth before the loss.
In October 2022, Changpeng Zhao’s net worth was reported to be around %30 billion and which made him the 33rd richest man in the world. Earlier in the February of the same year his worth peaked at around $95.9 billion.
All of his earnings mostly come from his crypto trading business. He also has personal cryptocurrency holdings in both Bitcoin as well as Binance coins. As per reports, he bought around $1 million worth of Bitcoin when the currency was $600 a unit. Today the cost of the coin is around $20,000 a unit.
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What is the Career History of Changpeng Zhao?
Changpeng Zhao had a truly humble beginning. He was born in Jiangsu Providence in China in 1977, then his family moved to Vancouver in the 1980s. Then after shifting to Canada he started working at a gas station to earn money. Changpeng Zhao also worked as a referee for volleyball games in his teens and as a cook at McDonald’s
He graduated from McGill University in Montreal with a degree in computer science. Then he worked at the Tokyo Exchange and Bloomberg Tradebook and managed teams in Tokyo New Jersey, and London.
Then he left his job in 2005 and became a partner in fusion systems which is a trading system company in Shanghai.
When Did Changpeng Zhao Find Binance?
In 2013, Zhao first learned about Bitcoin and started taking a keen interest in cryptocurrency after that. Then he began working at blockchain.info as the head of development.
In 2017, he founded Binance which is the biggest cryptocurrency exchange by trading volume. This platform handles about $76 billion worth of daily exchange.
Binance company generated a revenue of $20 billion in 2021 and managed trades worth $9.5 trillion.
The company has also faced some controversies like in the last year October, $570 million worth of cryptocurrency trading on the platform ended up getting stolen in a blockchain hack. Then Binance was scrutinized in the United States, Hong Kong, Japan, and the United Kingdom.
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Two years ago, Zhao shifted to Dubai and previously he was resides in Singapore from 2019 to 2021 and said that he likes to get acquainted with diverse cultures. Now he owns an office space, an apartment, and a minivan in Dubai.
Some Favourite Quotes From Changing Zhao –
“When people say they don’t like something, but they can’t stop talking about it, you know it’s good.” – Changpeng Zhao
“It may take some effort, but what else have we got to do? Let’s rebuild.” – Changpeng Zhao
“Don’t play a game where they can change the rules when you are just about to win. Just leave and let them play with themselves.” – Changpeng Zhao
“There is no overnight success. Luck is built over the long run, a little bit at a time, consistently.” – Changpeng Zhao
Conclusion
Changpeng Zhao is a Chinese-Canadian businessman who founded the cryptocurrency exchange Binance in 2017. He has an estimated net worth of $4.5 billion, mostly from his crypto trading business. Zhao is a cryptocurrency expert and Binance generated $20 billion in 2021, managing trades worth $9.5 trillion. Despite facing controversies such as a blockchain hack, he shares quotes like “When people say they don’t like something, but they can’t stop talking about it, it’s good.” He now resides in Dubai.
