Ex-McDonalds employee becomes multi-billionaire, surpasses Mukesh Ambani

From humble beginnings as a former McDonald’s employee, 44-year-old Changpeng Zhao has now joined the club of the richest people in the world.

Known as CZ, Changpeng Zhao is a software developer and the founder of Binance, a cryptocurrency exchange firm.

With crypto booming in the United Arab Emirates, Zhao has become a colossal name in the crypto industry.

According to a net worth survey by the Bloomberg Billionaires Index, 44-year-old Zhao has managed to surpass some of the wealthiest people in the world, including India’s richest man Mukesh Ambani, Meta CEO Mark Zuckerberg and the founders of Google, Larry Page and Sergey Brin. According to Bloomberg’s analysis, Binance had generated over $20 billion last year.

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Since the index does not take his personal crypto holdings into account, the estimate is just the tip of the iceberg of Zhao’s wealth.

While Zhao hasn’t commented on the net worth analysis, Binance slammed all numbers by stating that the company is still in the beginner stage and is easily susceptible to volatility, adding that any bunch of numbers floating around one day can easily see a rise or drop the next day.

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Founded in China, Binance apparently surged with a whopping 1,300% last year. The firm is often surrounded by controversies, from being banished from the country it was established in, to regular probes and speculation of money laundering. To continue its reign, Zhao has been on a lookout for a profitable location to consolidate his business as well as set up the company’s headquarters. To do so, Zhao has been attending meetings with Dubai’s royalty, attending the Grand Prix, and hosting dinners in the Palm Jumeirah Island.

Despite the controversies, Zhao has managed to set foot in Dubai, and has bought a luxurious apartment in the big city.

Addressing his massive wealth in an interview with Bloomberg’s Erik Schatzker, Zhao added that he couldn’t seem to care less about the money, or the rankings.