Forbes Ranks Binance Founder CZ Above Bill Gates on Global Wealth List

TLDR

• Forbes estimates Changpeng Zhao’s net worth at $110 billion, placing him 17th on the global rich list
• The figure puts CZ ahead of Bill Gates, estimated at $108 billion
• CZ publicly disputed the estimate, saying crypto prices dropped over 50% in 2026
• Most of CZ’s wealth comes from his roughly 90% ownership stake in Binance, not token holdings
• Binance holds about 38% of the global crypto trading market and generated an estimated $16–17 billion in revenue in 2024–2025

Changpeng Zhao, the founder of Binance, has been ranked as wealthier than Bill Gates according to a new Forbes estimate. The report, published March 10, puts Zhao’s net worth at approximately $110 billion.

That figure places him 17th on Forbes’ global billionaires list. Gates was estimated at around $108 billion.

Zhao is the founder of Binance, the world’s largest cryptocurrency exchange. He stepped down as CEO in 2023 after pleading guilty to failing to maintain an effective anti-money laundering program.

He paid a $50 million personal fine and served four months in a California prison. Binance itself paid $4.3 billion in penalties as part of the settlement.

Despite stepping down, Zhao is widely believed to still own around 90% of Binance. That ownership stake is the main driver of his estimated wealth.

Industry analysts value Binance at roughly $100 billion. The exchange processes tens of trillions of dollars in annual trading volume across spot and derivatives markets.

Binance controls about 38% of the global crypto trading market. Analysts estimate it generated between $16 billion and $17 billion in revenue across 2024 and 2025, about 2.5 times Coinbase’s $6.6 billion annual revenue.

Zhao pushed back on the Forbes estimate shortly after it began circulating. In a post on X on March 11, he wrote that crypto prices had dropped more than 50% in 2026 and questioned how his net worth could have risen during that period.

How Exchange Owners Can Gain During a Market Downturn

Crypto exchanges earn revenue from transaction fees regardless of whether prices are rising or falling. During volatile periods, trading volumes often increase, which can raise exchange revenues even as token prices drop.

This dynamic helps explain how Binance’s estimated value may have held steady or grown while the broader market declined.

Zhao’s direct crypto holdings have not followed the same path. His estimated 1,400 Bitcoin fell roughly 25% in value over the past year, to around $100 million. That is a small portion of his overall estimated fortune.

Some social media users speculated that Zhao profited from betting against the market during the October 10 crypto crash, which triggered widespread liquidations across derivatives markets. Zhao denied this, writing: “Never shorted.”

Where Bitcoin, Ethereum, and XRP Stand Now

At the time of the Forbes report, Bitcoin was trading near $71,000, Ethereum around $2,080, and XRP near $1.40.

Binance also operates the BNB Chain, a blockchain ecosystem with a native token. The network carries a market capitalization of around $88 billion.

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