Saudi Press

Saudi Arabia and the world
Wednesday, Oct 08, 2025

Crypto CEO is now one of world’s richest

Crypto CEO is now one of world’s richest

The Binance exchange chief has entered the ranks of the richest people on Earth, and the tally doesn’t even count his crypto holdings
Changpeng Zhao, the man behind the major crypto exchange Binance, has a net worth of nearly $100 billion, but plans to give most of it away.

According to the Bloomberg Billionaires Index calculations published on Monday, Zhao has an estimated net worth of at least $96 billion. Moreover, Bloomberg’s findings do not take into account Zhao’s personal crypto holdings, which means his actual fortune may be much bigger.

In any case, Zhao’s estimated fortune now rivals those of Facebook owner Mark Zuckerberg and Google founders Larry Page and Sergey Brin. As for his fellow crypto entrepreneurs, Zhao’s closest rivals are FTX exchange founder Sam Bankman-Fried, with an estimated $15.4 billion, and Coinbase CEO Brian Armstrong, with some $8.9 billion, according to the Index.

However, Zhao, who comes from a Chinese-Canadian immigrant family and had to work at McDonald’s to support the household in his early years, “intends to give away most of his wealth, even 99% of his wealth,” a Binance spokesperson told CNN Business on Tuesday.

In his own Twitter post on Monday, Zhao urged his followers not to “worry about rankings” and “focus on how many people you can help.”

“Unpopular opinion: instead of wealth rankings, there should be a ranking of charity and philanthropy efforts,” he wrote in a follow-up on Tuesday.

Binance is the globe’s largest cryptocurrency exchange, with a 24-hour trading volume of $16.6 billion on January 10, according to Statista.com. The exchange generated some $20 billion of revenue in 2021.

Binance faced regulatory clampdowns last year, along with other crypto exchanges. It was banned in the UK and faced other hurdles in several countries, including Canada. Zhao, however, welcomed the possibility of tightening regulations on the crypto sphere, writing in an open letter that “clear regulations are critical for continued growth” and are “positive signs that an industry is maturing,” which helps set “the foundation for a broader population to feel safe to participate in crypto.”

According to Bloomberg, Zhao owns 90% of Binance. He declined to comment on Bloomberg’s findings, and the exchange disputed the accuracy of the calculations.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Wave of Complaints Against Apple Over iPhone 17 Pro’s Scratch Sensitivity
Syria Holds First Elections Since Fall of Assad
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
UK, Canada, and Australia Officially Recognise Palestine in Historic Shift
New Eye Drops Show Promise in Replacing Reading Glasses for Presbyopia
Dubai Property Boom Shows Strain as Flippers Get Buyer’s Remorse
Top AI Researchers Are Heading Back to China as U.S. Struggles to Keep Pace
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
UAE-US Stargate Project Poised to Make Abu Dhabi a Global AI Powerhouse
Trump and Starmer Clash Over UK Recognition of Palestinian State Amid State Visit
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Sam Altman sells the 'Wedding Estate' in Hawaii for 49 million dollars
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Kuwait opens bidding for construction of three cities to ease housing crunch.
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
Could AI Nursing Robots Help Healthcare Staffing Shortages?
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Did the Houthis disrupt the internet in the Middle East? Submarine cables cut in the Red Sea
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
×