Binance Founder CZ's Wealth Surges Despite $4.3B Fine
Adekunle Joshua
As per Bloomberg Billionaires Index data, Changpeng Zhao's wealth, the ousted founder of Binance, has skyrocketed by $24.6 billion in 2023
Following this, CZ is now the 35th richest person globally, with an impressive 195.9% growth in his wealth to $37.2 billion
This wealth surge is mainly tied to his majority ownership of Binance, one of the world's largest crypto exchanges by trading volume
However, despite this significant wealth increase, Zhao's current wealth is much lower than its 2022 peak of nearly $97 billion
It dipped from its year-to-date high of $50.4 billion in July
Interestingly, the $24.6 billion surge is more than five times the $4.3 billion fines imposed on Binance by U.S. authorities.