After being featured on Fortune magazine¡¯s cover last week, world's largest crypto exchange Binance's Billionaire CEO Changpeng Zhao has said he is "really not that rich".
As per Fortune report, at least on paper, the 44-year-old Binance founder Changpeng Zhao is among the world¡¯s richest people.
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His crypto exchange is worth an estimated $300 billion, nearly six times the market cap of its nearest U.S.based competitor, Coinbase, as per Fortune.?
Currently, Zhao is ranked 16th on the Bloomberg Billionaires Index with nearly $68 billion net worth, after his net-worth slipped from the $74 billion mark recently. But still, Zhao's net-worth is more than Dell founder Michael Dell, Jeff Bezos¡¯ ex wife MacKenzie Scott, and each of Sam Walton¡¯s three children, the heirs to the massive Walmart fortune.
¡°If they think I am worth that much, that is what they think,¡± Zhao told Fortune. ¡°It¡¯s fictitious pricing.¡±
But as per what Binance CEO Zhao told Fortune, he was far from wealthy growing up.
He was raised in a rural village in China¡¯s Jiangsu province after his father was banished from a bigger city for his ¡°bourgeois leanings.¡± In his youth he experienced food rationing, he reportedly told Fortune.
Later, a move to Canada following the Tiananmen Square student uprising and subsequent government crackdown gave 12-year-old Zhao a different perspective. He started earning money by flipping burgers at McDonald¡¯s and refereeing volleyball games. From Canada, Zhao went to study software development and spent years working in Tokyo and New York before starting Binance in 2017.
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