In Brief:
- Binance CEO, Changpeng Zhao revealed his intention to donate 99% of his wealth
- Zhao net worth is around $2 billion and biggest shareholder of Binance with $300 billion
- The majority of his investment in crypto is in Binance Coin (BNB)
Leading crypto exchange, Binance CEO Changpeng Zhao (CZ) revealed in an interview that he intends to donate 99% of his wealth after being inspired by other entrepreneurs.
“I do intend to give away most of my wealth like many wealthy entrepreneurs or founders did from Rockefeller [late American business magnate John D. Rockefeller] until today. I do intend to give away 90, 95, or 99% of my wealth,” Zhao stated in an interview. Also, he added that he doesn’t need a lot of money as he is financially free.
At the time of writing, CZ’s net worth is around $2 billion. However, CZ holds the largest share of Binance, with a valuation of up to $300 billion. If in the future, Binance takes exit then it will make Zhao opulent.
Zhao also stated that he only owns Bitcoin and Binance Coin (BNB) in cryptocurrencies. His first purchase of Bitcoins was in 2014. Also, most of his investment is in BNB. Zhao doesn’t hold any other crypto to avoid “any potential conflicts of interest.”
Earlier, many business tycoons and enterprises pledged to donate a big portion of their wealth. In this list, Bill Gates, Mark Zuckerberg, and Michael Bloomberg are included.
Also read: Binance Release Fundamental Rights for Crypto Users.
The interview fell into controversy after Zhao refused to answer some anti-crypto questions. By counting the potential of crypto, Zhao has ensured that cryptocurrencies are not forming any bubbles as it is a common phenomenon to fall and rise. In the past, Amazon’s share dropped to more than 90%, But today Amazon is on the list of top 10 valuable companies.
