Changpeng Zhao remains at the top of Forbes’ list of cryptocurrency billionaires, with an estimated fortune of $47.7 billion. But how did he build his wealth?

Profiting from Binance’s success
In 2017, Changpeng Zhao launched Binance Coin (BNB) and distributed $200 million in BNB. The value of Binance Coin has surged since then, with a current price of around $540 and a market capitalization of about $80 billion, making it the fourth largest cryptocurrency.

After acquiring a significant portion of Binance through five rounds of funding, Zhao’s net worth was estimated at $100 billion in 2022.

Acquisitions and diversification
Binance engaged in multiple acquisitions, with Zhao revealing plans to do about 30 acquisitions each year. These acquisitions aimed to diversify Binance’s business and strengthen its position in the market.

Financial struggles and regulatory issues
However, in 2023, Binance faced regulatory issues that led to a decline in market share and trading volumes. Zhao’s net worth decreased to $40 billion, and he resigned as CEO of Binance, agreeing to pay a $50 million fine.

Other investments and assets
Apart from Binance and BNB investments, Zhao owns real estate in Dubai and has made investments in FTX and Twitter. Most of his wealth is in cryptocurrencies, specifically Bitcoin and BNB.

SEC lawsuit and wealth recovery
In June 2023, the SEC filed a lawsuit against Binance, impacting Zhao’s net worth. However, by the end of 2023, Zhao’s wealth had recovered to $37.2 billion.

Overall, Changpeng Zhao’s wealth is largely tied to Binance’s success, and the recent market recovery has likely contributed to his increased fortune.

In conclusion, Changpeng Zhao has established himself as one of the wealthiest figures in the cryptocurrency industry, with significant investments and assets that continue to shape his financial standing. As the market evolves and regulatory challenges persist, Zhao’s wealth remains dynamic, reflecting the ever-changing nature of the crypto landscape.

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