News - Changpeng Zhao's fortune shrinks

By Mike Hesp

Changpeng Zhao's fortune shrinks

Exchanges

In the list of richest people, Changpeng Zhao now ranks only 95th. The Binance boss's fortune has shrunk considerably.

Changpeng Zhao's personal wealth has shrunk to $17 billion, according to the Bloomberg Billionaires Index.

In the list of richest people in the world, the Binance CEO thus drops to 95th place.

In early 2022, Zhao was still the 11th richest person with about $97 billion. According to current estimates, the Binance CEO's fortune has shrunk by 82 percent.

The Bloomberg index calculates Binance's earnings based on spot and derivatives trading. On Oct. 26, Bloomberg lowered Binance's projected earnings by 38 percent.

By September, the crypto exchange's wholesale market share had fallen for seven consecutive months to 34 percent.

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