CZ Disputes Forbes Estimate Putting His Net Worth at $110B

Changpeng Zhao, widely known as CZ, has challenged a recent estimate of his personal fortune after Forbes ranked him among the world’s richest individuals.

The Binance founder said the reported figure does not accurately reflect his financial reality and described billionaire rankings as largely speculative. His comments came following a report that valued his wealth at roughly $110 billion, placing him 17th on the global rich list.

Key Points

• Forbes estimated Binance founder CZ’s net worth at $110 billion, ranking him 17th globally.
• Zhao disputes the ranking, calling billionaire lists speculative and unreliable when it comes to crypto-linked wealth.
• The bulk of Zhao’s fortune comes from Binance, of which he controls approximately 90%, valued at around $100 billion.
• Binance generated $16–17 billion in revenue and handled $30 trillion in annual trading volume, holding 38% of the global crypto exchange market.
• His reported wealth now surpasses figures of traditional billionaires like Bill Gates ($108B) and Michael Bloomberg ($109B), highlighting crypto’s rising influence.
  

CZ Questions Billionaire Ranking

Zhao addressed the estimate in a post on X, arguing that wealth rankings often rely heavily on assumptions rather than verified financial disclosures.

He also noted that estimating the fortunes of cryptocurrency businesses can be particularly difficult due to market volatility. According to him, the crypto market has yet to return to its previous highs. Specifically, he highlighted that Bitcoin and many other digital assets remain roughly 50% below their all-time peaks.

Despite his skepticism, the ranking still places Zhao among the small group of individuals with fortunes exceeding $100 billion. This status places him firmly within the upper tier of global billionaires.

Binance Valuation Drives Wealth Surge

Much of the estimated increase in Zhao’s wealth is linked to the performance and valuation of Binance, the cryptocurrency exchange he founded in 2017.

As the company’s dominant shareholder, Zhao stands to benefit directly from any rise in its market value. According to market estimates cited by Forbes, Binance’s valuation is around $100 billion. Zhao is widely believed to control roughly 90% of the company, a stake that largely accounts for the magnitude of his estimated fortune.

Operational figures further highlight the exchange’s scale. Reports indicate Binance generated approximately $16–17 billion in revenue during 2024–2025. In addition, the platform processed more than $30 trillion in annual trading volume. This impressive activity allowed it to capture about 38% of the global crypto exchange market.

These metrics highlight why shifts in Binance’s valuation can significantly influence estimates of Zhao’s personal wealth.

Legal Case and Presidential Pardon

Zhao’s recent financial standing developed after a major legal episode involving Binance.

In November 2023, he admitted to a regulatory violation linked to shortcomings in the company’s anti-money laundering (AML) procedures. The settlement imposed a $50 million personal fine on Zhao and required Binance to pay $4.3 billion.

Moreover, Zhao stepped down as Binance’s CEO as part of the deal. Subsequently, he served four months in prison in the U.S.

The situation evolved further in October 2025, when President Donald Trump granted him a full presidential pardon.

Trump said at the time that he did not personally know Zhao. Nevertheless, the Binance founder later appeared at a Mar-a-Lago forum hosted by World Liberty.

Standing Among Global Billionaires

Regardless of debates over the accuracy of wealth estimates, Zhao remains the most prominent billionaire in the cryptocurrency industry.

His reported fortune places him ahead of several well-known financial figures on the Forbes list. These include Michael Bloomberg, co-founder of Bloomberg LP, whose wealth is estimated at $109 billion.

Other financiers ranked below Zhao include trading executive Jeff Yass, worth roughly $67.4 billion, and hedge fund leader Ken Griffin, with an estimated net worth of $49.8 billion.

Perhaps most notable is Zhao’s position relative to Bill Gates. The Microsoft co-founder’s wealth is estimated at around $108 billion, according to Forbes. Gates’ fortune has declined in recent years due to significant charitable donations and his 2021 divorce from Melinda French Gates.

Consequently, Gates now sits two places below Zhao on the global ranking, underscoring the rapid rise of crypto-linked fortunes in the broader billionaire landscape.