By Andrea Hargraves 
Changpeng Zhao, the CEO of cryptocurrency, has become one of the richest billionaires in the world. Promise to donate a lot of your money
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Cryptocurrency CEO has become one of the richest people on earth.
Changpeng “CZ” Zhao, who runs cryptocurrency exchange Binance, has joined the list of the world’s largest billionaires, with an estimated net worth of at least $96 billion, according to new calculations from the Bloomberg Multimillionaires Index.
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Zhao’s calculated fortune now rivals that of the Oracle founder (ORCL), Larry Ellison, beats the Mukesh Ambani An Indian billionaire whose fortune has also declined in the past two years.
The rise of the Chinese-Canadian entrepreneur is a symbol of rapid fortune in the fast-paced world of digital currencies.
In the past year, cryptocurrency founders have also made huge gains as the value of cryptocurrencies soared. Both from the creator of Ethereum, Vitalik Buterin, as founder Coinbase, Brian ArmstrongThey became millionaires.
Sam Bankman-Fried, CEO of FTX, another cryptocurrency exchange backed by BinanceOn Tuesday, he noted “the value of creating unprecedented wealth that has occurred in the industry in recent years.”
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“I think there are a lot of people trying to figure out what they can do with this,” Friedman, the young billionaire himself, said during a hypothetical discussion at the Asian Financial Forum in Hong Kong.
In a Twitter post, Zhao also seemed to recognize the distinction. “Don’t worry about the arrangement. Focus on the number of people who can help,” he wrote.
Zhao followed up with another post, in which he said, “An unpopular opinion: Instead of grading wealth, there should be an arrangement for charitable and humanitarian efforts.”
A Binance spokesperson told CNN Business that “CZ intends to give away most of his wealth, amounting to 99% of his wealth, just like other entrepreneurs and founders.”
In recent years, other famous business leaders, such as Facebook CEO Mark Zuckerberg, have signed on to the “Giving Pledge,” an initiative started by Warren Buffett and Bill and Melinda Gates to encourage the world’s richest people to donate most of their fortunes to social works.
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Zhao launched the Binance platform in 2017, and developed it into one of the largest cryptocurrency exchanges in the world.
According to the company blog, the CEO was raised in an immigrant family in Canada and previously worked at McDonald’s to help support the family.
After studying computer science at McGill University, he worked on software trade For the Tokyo Stock Exchange and Bloomberg.
According to Binance, “In 2013, he discovered Bitcoin during a poker game and decided to devote his entire life to cryptocurrency.” “He even sold the apartment to buy bitcoin.”
Like other exchanges, Binance in recent months has faced a number of regulatory difficulties around the world, including bans in the United Kingdom and other restrictions in countries such as Canada.
Publicly commenting on the problems, Zhao wrote an open letter last year saying that “clear rules are essential to continued growth.”
“Having more rules is actually a positive sign that the industry is maturing,” he added. “Because it forms the basis for a broader sense of security in the population to participate in cryptocurrency.”
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