A recent Forbes report revealed that Changpeng Zhao (CZ), the former boss of Binance, owns a tremendous 64% of all circulating Binance Coin (BNB) tokens, which is equivalent to around 94 million tokens.
Based on an investigation by Gray Wolf Analytics, this report revealed that Binance’s founding team initially received 80 million BNB tokens, with the company still controlling 46 million of those original coins. Astonishingly, Zhao and Binance together possess 71% of the total 147 million BNB tokens currently available.
With each BNB currently valued at approximately $602 and the circulating supply worth over $91 billion, Zhao’s 90% ownership in Binance combined with his crypto holdings have propelled him to become the 24th wealthiest individual worldwide, amassing a massive $61 billion net worth.
Moreover, BNB has been on an uptrend, with prices climbing from around $290 in January to peaks of $724 this month.
This report comes after Zhao’s legal troubles with the U.S. Department of Justice (DOJ). In 2023, he faced charges for alleged sanctions violations and money laundering, leading to a guilty plea, a $50 million fine, and a four-month prison sentence.
