Binance founder Changpeng Zhao, widely known as CZ, now has a net worth of $110 billion, according to the latest Forbes global billionaire ranking. That is an increase of $47 billion from a year ago, lifting him to No. 17 worldwide and putting him ahead of Microsoft co-founder Bill Gates. In the Forbes view, the jump is tied mainly to a higher implied valuation for Binance rather than a sharp rise in CZ's visible token holdings.
Binance equity remains the main driver of his fortune
The report says CZ owns about 90% of Binance, the world's largest crypto exchange, which Forbes values at around $100 billion. The company is described as holding roughly 38% market share and processing more than $30 trillion in annual spot and derivatives volume, while also sitting at the center of a broader business tied to BNB Chain. Artemis analyst Zheng Jie Lim told Forbes that Binance revenue in 2024 and 2025 is estimated at $16 billion to $17 billion, about 2.5 times Coinbase's $6.6 billion.
By contrast, some of CZ's better-known holdings did not post standout gains over the past year. Forbes said his roughly 1,400 BTC fell about 25% in value to around $100 million, while the value of his large BNB position was largely flat. That leaves Binance equity as the clear core of his wealth.
Seventeen months after prison, the picture looks very different
About a year and a half ago, Zhao had just left a California prison. After Binance came under broad scrutiny from U.S. authorities, he pleaded guilty to failing to maintain an effective anti-money-laundering program, paid a personal fine of $50 million, and stepped down as chief executive. Binance separately paid $4.3 billion, and Zhao served a four-month sentence. Now, within 17 months, Forbes places him among the small group of people worldwide worth more than $100 billion.
Forbes links the rise to a friendlier political climate
Forbes also ties the surge in CZ's fortune to Donald Trump's return to office. The source material says that in March last year, Binance agreed to accept World Liberty Financial's USD1 stablecoin, a project tied to the Trump family, as the payment vehicle for Abu Dhabi investment firm MGX's $2 billion investment in Binance. Six months later, in October, Trump granted Zhao a full pardon. Last month, Zhao also appeared at a World Liberty forum at Mar-a-Lago, marking a return to U.S. business circles.
The same material notes that Trump said publicly in November, “I don't know who he is,” and denied any link between the pardon and business dealings.
Compliance questions remain in circulation
The wealth increase has not erased scrutiny around Binance's compliance controls. In recent weeks, Fortune, The Wall Street Journal, and The New York Times reported that Binance had dismissed senior investigators who had flagged as much as $1 billion in funds moving to sanctioned Iranian entities. The material says those accusations resemble conduct U.S. authorities had previously alleged against the exchange. Binance denied the claims and defended its compliance program.
Gates falls two places behind Zhao
Forbes places Bill Gates at about $108 billion, ranking him 19th globally, or $2 billion behind Zhao. The report says Gates' lower standing reflects years of large charitable giving and his 2021 divorce from Melinda French Gates.