You’ve undoubtedly heard of Binance, one of the world’s biggest and most well-known cryptocurrency exchanges.
But do you know who created this popular trading platform? He is the founder and CEO of Binance and goes by the moniker Changpeng Zhao, or CZ.
This article will examine his background, accomplishments, difficulties, and Changpeng Zhao’s net worth in 2023.
| Name | Changpeng Zhao |
|---|---|
| Nickname | CZ |
| Date of birth | October 10, 1977 |
| Place of birth | Jiangsu province, China |
| Nationality | Chinese-Canadian |
| Education | Bachelor’s degree in computer science from McGill University |
| Occupation | Founder and CEO of Binance |
| Net worth | $10.5 billion (as of 2023) |
| Residence | No fixed location; travels frequently |
| Family | Married with two children |
| Interests | Crypto, trading, gaming, martial arts, yoga, meditation |
Who is Changpeng Zhao?
Changpeng Zhao is a Chinese-Canadian entrepreneur, software program developer, and crypto enthusiast. He was born in Jiangsu, China, in 1977, and moved to Canada with his family as a teenager.
He studied computer science at McGill University in Montreal and then worked for various companies in Tokyo, New York, and Shanghai.
In 2001, CZ moved to New York, USA, to work as a software developer for Bloomberg Tradebook, a company that provided electronic trading solutions. In 2004, He quit his job at Bloomberg and moved back to Shanghai, China, to start his own company called Fusion Systems.
Changpeng Zhao’s Early Life and Career
| Year | Event |
|---|---|
| 1977 | Changpeng Zhao was born in Jiangsu province, China. |
| 1989 | He moved to Vancouver, Canada, with his family. His father was a professor. |
| 1991 | He started learning how to code by himself using a Commodore 64 computer. He also developed an interest in trading stocks and futures. |
| 1995 | Enrolled at McGill University in Montreal, Canada, to study computer science. He also worked part-time at McDonald’s and a gas station to support himself. |
| 1999 | Graduated from McGill University with a bachelor’s degree in computer science. Then moved to Tokyo, Japan, to work as a software developer for Fusion Systems, a company that provided IT solutions for financial institutions. |
How did he get interested in crypto?
Changpeng Zhao first learned about Bitcoin in 2013, when he was the head of development at Blockchain.info, a crypto wallet provider.
He was fascinated by the concept of decentralized money and the potential of blockchain technology. He decided to quit his job and devote himself to the crypto industry.
He joined OKCoin, a Chinese crypto exchange, as the chief technology officer, and later founded BijieTech, a company that provided cloud-based exchange solutions.
How did CZ start Binance?
In 2017, Changpeng Zhao had an idea to create a new crypto exchange that would be faster, more user-friendly, and more accessible than the existing ones.
He raised $15 million through an initial coin offering (ICO) for Binance Coin (BNB), the native token of the platform. He then assembled a team of developers and launched Binance in July 2017.
The exchange quickly gained popularity among crypto traders and investors, thanks to its low fees, high liquidity, and wide range of features.
Changpeng Zhao Net Worth: How much is he wealthy in 2023?
According to Forbes magazine, Changpeng Zhao’s net worth is estimated at $10.5 billion in 2023.
However, his wealth is changing significantly due to the volatility in the price of BNB, Bitcoin, and other crypto assets that he owns.
The main source of CZ’s wealth is Binance. Different sources give different figures for CZ’s share in Binance, ranging from 30% to 90%.
Forbes thinks that CZ has at least 70% of Binance’s shares, which means he is the main owner of the crypto exchange. Binance is a private company and it does not share its financial or ownership information, so the exact figure of CZ’s share in Binance is not known.
How does he spend his money?
Changpeng Zhao is known for being humble and frugal with his money. He does not own any expensive cars or houses. Also, He prefers to travel light and stay in hotels or rented apartments.
CZ also donates much of his money to charitable causes through Binance Charity Foundation. He once said that he does not care about money or fame; he only cares about making a positive impact on the world through crypto.
Conclusion
As the founder and CEO of Binance, the biggest crypto exchange in the world by trading volume, CZ has made a huge impact on the crypto industry.
He also launched Binance Coin, a token that gives users various benefits on his platform. Changpeng Zhao’s net wealth ranges from $10-30+ billion, depending on the value of Bitcoin, BNB, and his Binance stakes.
He owns between 30% – 90% of Binance, which offers a variety of crypto products and services, such as spot trading, futures trading, decentralized exchange, smart chain, NFT marketplace, and more.
CZ is not only wealthy but also visionary and innovative. He is a true leader and pioneer in the crypto space.
