In its ranking of the 500 richest people in the world, Bloomberg has placed Changpeng Zhao (CZ) in 95th position, with an estimated fortune of $17.3 billion. What can we say about these figures?
Bloomberg revalues Changpeng Zhao’s fortune (CZ)
As Bloomberg has just updated Changpeng Zhao’s (CZ) page in its billionaire ranking, we learn that based on the media’s estimates, the Binance CEO and co-founder’s fortune would be valued at $17.3 billion.
This puts him in 95th place on the list of the 500 richest people in the world, with Elon Musk, Bernard Arnault and Jeff Bezos on the podium, with estimated assets of $199 billion, $154 billion and $143 billion respectively.
As far as CZ is concerned, estimates show that his fortune has fallen by around 82% in less than 2 years, from a high of $96.9 billion on January 12, 2022:
Over 12 months, the graph above shows an increase of 37.3%, but also a drop of more than 65% since a peak on July 13 at $50.4 billion.
In making its calculations, Bloomberg relies primarily on Changpeng Zhao’s shareholdings in Binance and Binance.US, estimating these at 90% and 87% respectively. The U.S. branch’s regulatory woes would also have weighed on the entrepreneur’s wealth:
” After being sued by the Securities & Exchange Commission in June 2023, he announced that he would switch to a crypto-only model and would no longer support dollar transactions. As a result of these actions, its value was reduced to zero, causing a billion-dollar loss in Zhao’s fortune. “
However, we know that these estimates have limitations, given how difficult it is to accurately inventory a person’s wealth. For CZ, for example, Bloomberg does not count his holdings in Bitcoin (BTC) or BNB, since the amounts are not known and he certainly owns other cryptocurrencies.