Binance CEO denies $28B wealth: ‘I don’t have anywhere near as much’

Changpeng “CZ” Zhao, CEO of major cryptocurrency exchange Binance, claims to hold a way less net worth than reported by some mainstream media.

Binance CEO took to Twitter on April 27 to tell its followers that Bloomberg’s latest finance rich list has some inaccurate information regarding his wealth.

According to Bloomberg’s rich list, CZ is supposed to be ranked in the top three finance billionaires worldwide, holding a net worth estimated at $28.2 billion.

“Numbers all wrong. I don’t have anywhere near as much. Don’t know why they do this,” CZ wrote. He also started his tweet with “4,” apparently implying that his wealth should be somewhere between Dan Gilbert’s $19.4 billion and Uday Kotak’s $13 billion.

Source: Twitter

Binance CEO also mentioned that he has never viewed the collapsed FTX cryptocurrency exchange as a rival. “We welcome more — well-run — exchanges in the space,” CZ added.

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CZ’s latest move to highlight reporting inaccuracies comes in line with the CEO’s critical stance on the way how the industry is represented in articles by mainstream media. The executive has repeatedly denied information from major mainstream sources like Bloomberg and Forbes, often characterizing their reports as FUD, or fear, uncertainty and doubt.

In late February, Binance CEO responded to an article by Forbes alleging that Binance proceeded with a “backroom maneuver” involving a $1.8 billion transaction in 2022. CZ argued that Forbes “don’t know how an exchange works.” Previously, the CEO also denied a Bloomberg report alleging that Binance was considering cutting ties with the United States business partners.

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