Forbes ranked Binance founder CZ ahead of Bill Gates with a net worth of $110 billion

According to the latest Forbes billionaire list, Binance founder Changpeng Zhao, known as CZ, has surpassed Microsoft co-founder Bill Gates in global wealth rankings. Forbes estimates CZ’s fortune at $110 billion, placing him ahead of Gates, whose net worth is listed at $108 billion.

The primary source of CZ’s wealth: His stake in Binance

Forbes now ranks CZ as the 17th richest person globally, with Gates taking the 19th spot. This shift highlights the growing influence of digital assets and the rapid rise in value of crypto infrastructure companies in shaping the global distribution of wealth.

CZ’s fortune is overwhelmingly tied to his ownership in Binance. According to Forbes, Zhao still controls approximately 90% of the world’s largest cryptocurrency exchange. Binance continues to be a global leader in both spot and derivatives trading volumes among crypto platforms.

Forbes included Zhao’s personal cryptocurrency holdings in calculating his total net worth. Earlier public disclosures suggest most of his assets are held in cryptocurrencies, notably Bitcoin and BNB.

CZ kept his shares after 2023 US settlement

Despite facing mounting regulatory scrutiny in recent years, Binance has managed to maintain its position among the industry’s largest players. In 2023, CZ stepped down as CEO following a settlement in the United States but retained his ownership stake in the company.

Forbes asserts that the stabilization in Binance’s transaction activity, alongside the exchange’s leading share in global crypto trading, has helped restore the company’s valuation. This rebound has significantly increased the estimated value of Zhao’s stake.

Bill Gates’ giving strategy has reduced his net worth

The rankings are not solely a result of gains in the crypto market. Forbes points out that Bill Gates’ longstanding commitment to philanthropy has gradually reduced his personal wealth over the years. Nevertheless, Gates still ranks among the world’s richest individuals.

The latest figures show that fortunes stemming from traditional tech companies and those built through crypto infrastructure are now competing in the same league. However, since the valuations of private businesses and the prices of digital assets can shift daily, the billionaire rankings may see frequent changes.

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