Amazing of Cryptocurrency: Burger maker sold his house and invested money in crypto, now he is richer than Mark Zuckerberg
The net worth of Zhao’s company Binance is being speculated to overtake the net worth of Tesla and Amazon.
Cryptocurrency has turned the fortunes of burger maker Changpeng Zhao. This man, who works at McDonald’s, is now the owner of $96 billion in assets. In Dubai, it is doing meetings and parties with the royal family. The net worth of Zhao’s company Binance is being speculated to overtake the net worth of Tesla and Amazon.
Cryptocurrency miracles: Changpeng Zhao, a former McDonald’s employee who invested in cryptocurrency by selling his flat, has been made a crypto-rich. Today his wealth is more than Mark Zuckerberg and Google founders Larry Page and Sergey Brin. Binance founder Zhao’s wealth is estimated at $96 billion. Binance Coin has grown by almost 1,300% last year.
In the Bloomberg Billionaires Index, only last month, his name has appeared in the list of Dhankubers. This rich was formerly a burger flickr and software developer at McDonald’s. Canadian citizen Zhao was born in Jiangsu province of China. His father was a professor at the university. At the age of 12, Zhao moved to Canada with his family.
According to a news of Bloomberg, he is known as CZ in the cryptophiles world. It is fast becoming a legend in the United Arab Emirates. They are meeting and partying with the royal family in Abu Dhabi. He has bought an apartment in Dubai. At the same time, some people believe that Zhao’s wealth could be even more than $ 96 billion. Zhao’s personal crypto holdings are not taken into account in the calculation of his wealth. This also includes bitcoin and his firm’s own token.
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Apartment sold to invest in crypto
Zhao’s path to making money from crypto began in Shanghai in 2013 during a friendly poker game with Bobby Lee, the then CEO of BTC China, and investor Ron Cao. Zhao encouraged both of them to put 10% of their net worth in bitcoin. After studying it for some time, he took advantage of it and sold his apartment for bitcoin.
Founded Binance in 2017
In 2017 he founded Binance and it soon turned into a crypto power house. Zhao also got the company’s logo tattooed on his arm. Zhao said in November that an announcement regarding the Binance headquarters would be made soon. In its legal filing, the firm states that it is incorporated in the Cayman Islands which is an offshore and famous for tax saving.
Binance may overtake Tesla and Amazon
In November, the Wall Street Journal said that Zhao’s firm could have a net worth of $300 billion. This means that the company can overtake Tesla’s Elon Musk and Amazon’s Jeff Bezos. Musk is at number one in the world with a net worth of $282 billion. Bezos is second with a net worth of $ 192 billion.
related to controversies
The US Department of Justice and Internal Revenue Service is investigating whether Zhao’s company also engages in money laundering and tax evasion. Last year Binance generated at least $20 billion in revenue.