Binance CEO Changpeng Zhao is Asia’s most richest man

Bloomberg says Binance CEO Changpeng “CZ” Zhao is worth an estimated $96 billion.

This is the first time Bloomberg Billionaires Index is estimating Zhao’s net worth.

Zhao’s $96 billion figure rivals tech billionaires Mark Zuckerberg, Larry Page and Sergey Brin.

Bloomberg says Zhao’s networth exceeds that of Asia’s richest person, Mukesh Ambani, the chairman of Indian conglomerate Reliance Industries.

The $96 billion figure does not take into account Zhao’s personal crypto holdings, meaning it could be a significant underestimate.

Among his crypto peers, the 44-year-old’s closest rivals are FTX founder Sam Bankman-Fried ($15.4 billion) and Coinbase CEO Brian Armstrong ($8.9 billion), according to Bloomberg’s index.

Bloomberg assumed Zhao owns 90% of Binance, and estimated the exchange’s revenue from spot and derivatives trading volumes and advertised fees.