🌎 Binance Founder Zhao’s Net Worth Soars to $33 Billion

According to a recent Forbes article, Binance founder Changpeng Zhao has seen a significant increase in his net worth since 2023. Forbes magazine released a list of the world’s wealthiest and most influential cryptocurrency billionaires, with Zhao leading the pack. His net worth is now estimated at $33 billion, a threefold increase from $10.5 billion in 2023, mainly due to his 90% stake in Binance valued at $32.5 billion.

Despite facing legal challenges in the past year, Zhao still holds the top spot in the billionaire ranking. In November 2023, Zhao and Binance admitted to violating U.S. anti-money laundering and sanctions laws. As part of a settlement agreement with the government, Zhao stepped down as the CEO of the exchange and paid a $50 million fine, while Binance had to pay $4.3 billion.

The final ruling on the money laundering charges is set for April 30, with Zhao having confessed to his guilt in late 2023. However, this legal issue has not significantly impacted his wealth, with his stake in Binance still valued at $32.5 billion, as per corporate documents and insider sources.

Forbes ranked Coinbase CEO Brian Armstrong in second place, with an estimated fortune of $11.2 billion. Armstrong’s wealth growth is linked to Coinbase’s market performance, as the company’s shares have risen notably since the beginning of 2023. Tether CFO Giancarlo Devasini secured the third spot on the Forbes list, with an estimated fortune of $9.2 billion.