CZ is worth $28.2 billion and made most of his wealth through his exchange Binance.
Binance CEO Changpeng Zhao was named by Bloomberg as one of the “25 financial giants” who made their fortunes through a “computer-driven trading company.”
CZ enters the top 3
According to Bloomberg, CZ is worth $28.2 billion, with much of his wealth earned through his exchange Binance.
Founded in 2017, Binance is the largest cryptocurrency exchange by trading volume — controlling more than 50% of the market — with more than 120 million users. As of April 5, Bloomberg estimated its annual revenue at about $12 billion.
Before founding Binance, Zhao reportedly worked on trading systems and was introduced to Bitcoin by cryptocurrency entrepreneur Bobby Lee at a poker game in Shanghai.
Binance has come under intense regulatory scrutiny following the collapse of FTX in November 2022. The CFTC filed suit against the exchange and CZ for violating trading and derivatives laws.
Meanwhile, the Forbes Rich List estimates CZ is worth $10.5 billion as of April 26.
Other cryptocurrency-related names on the list
1. Ken Griffin
Griffin is the richest person on the list, with a net worth of $35 billion. The billionaire made his fortune through his hedge fund Citadel and popular market maker Citadel Securities.
The hedge fund holds about $59 billion in stocks and other investments, while the market maker was valued at $22 billion as of January 2022.
Citadel Securities holds a 5.5% stake in Silvergate Capital and has expressed interest in building a cryptocurrency trading ecosystem.
2. Jeff Yas
The founder of Susquehanna is worth $33.1 billion. The trading company is said to be one of the investors in the OPNX exchange. Other investments made by the company include a $10 million strategic investment in KuCoin in 2022.
3. Udaykotak
Kotak is valued at $13 billion. His company, Kotak Mahindra Bank, was one of the first banks in India to adopt crypto technology.
4. Stan Druckenmiller
The billionaire is worth $9.9 billion. Druckenmiller is one of the biggest names supporting the crypto industry.
Last year, the billionaire said cryptocurrencies could play an "important role" as people seek alternatives to fiat currencies.
5. Todd Burley
The Chelsea Football Club chairman is worth $6.4 billion. His Eldridge investment firm reportedly led a debt raise for Digital Currency Group in November 2021.
The firm has also invested in fintech and crypto infrastructure company Cross River and backed crypto exchange and wallet provider Blockchain.com.
6. Guillaume Poussa
Pousaz is worth $6.3 billion. The Financial Times reported that his firm’s bets on the crypto industry were unsuccessful due to a massive exodus of investors following the FTX crash in November 2022.
7. Chasing Coleman
Coleman is worth $6 billion and is the founder of Tiger Global. The investment fund was one of the investors in collapsed cryptocurrency exchange FTX. Recent reports indicate that the $12.7 billion fund suffered 20% paper losses on its investments, which include NFT marketplace OpenSea.
8&9 John Overdeck and David Siegel
Overdeck and Siegel are each valued at $5.8 billion. The two co-founded Two Sigma Investments.
In 2022, Two Sigma partnered to provide data to Chainlink, a popular blockchain information network. Its venture capital arm has also committed about $400 million to two funds that include cryptocurrency investments.
10. Mark Rowan
Rowan is worth $5.6 billion. Rowan co-founded Apollo, which launched Bitcoin custody services for its institutional clients in 2022 through a partnership with Anchorage Digital.
11. Andre Esteves
Esteves is worth $5.2 billion. He is the controlling shareholder of Banco BTG Pactual, Latin America's largest investment bank. The bank launched a cryptocurrency trading platform in August 2022 and has since undertaken several initiatives to support cryptocurrencies.
12 & 13 Patrick Collison and John Collison
The Stripe founders are worth $5.1 billion each. Their online payment processing company reintroduced Bitcoin ( BTC ) payments for users in 2022.