Binance founder CZ rejects ‘nonsense’ report ranking him as China’s 13th richest person
The Hurun Research Institute estimates Zhao Changpeng’s net worth at more than US$26 billion
In a social media post on Tuesday, Zhao – widely known as CZ in the crypto industry – rejected a report that ranked him as China’s 13th richest person, calling it “nonsense”. He added that the reported net-worth number should be divided by 100.
The report, released by Hurun Research Institute this week, also said that Zhao’s wealth had increased 41 per cent this year. If the digital asset sector continued to thrive, Zhao may potentially become China’s richest individual, according to Hurun.
Calculating the personal wealth of cryptocurrency investors has proved challenging due to the volatility of digital assets and the lack of transparency over ownership. Forbes estimated Zhao’s net worth at nearly US$90 billion, while Bloomberg placed it at over US$61 billion.
Zhao has recently re-emerged in the public eye amid a growing rapport between the Trump administration and the crypto industry.