Binance Co-Founder Changpeng Zhao, widely known as CZ, has overtaken Microsoft co-founder Bill Gates on Forbes’ real-time billionaires list. As of June 24, 2026, the magazine estimates CZ’s net worth at $108.9 billion, positioning him at 18th worldwide, just ahead of Gates at approximately $103.4 billion.
This milestone underscores the transformative power of cryptocurrency adoption, which has propelled a new generation of tech entrepreneurs to the upper echelons of wealth in a fraction of the time it took traditional software giants. Yet CZ’s remarkable ascent is also intertwined with significant legal and regulatory controversies that have tested the boundaries of the industry he helped build.
Bill Gates amassed his fortune through decades of innovation at Microsoft, later directing much of it toward global philanthropy via the Bill & Melinda Gates Foundation. In contrast, CZ’s wealth is predominantly tied to his substantial ownership stake in Binance, the world’s largest cryptocurrency exchange by trading volume, along with holdings in its native BNB token.
Forbes has at times placed CZ even higher on its rankings earlier in 2026, with estimates reaching around $110 billion and a 17th-place standing. Bloomberg’s Billionaires Index has offered more conservative figures, often in the $80–85 billion range, highlighting the challenges of valuing private companies and volatile crypto assets. CZ has publicly described such third-party estimates as speculative and not fully accurate.
From Early Bitcoin Conviction to Exchange Dominance
CZ’s journey into cryptocurrency began around 2013, when he made a significant personal bet on Bitcoin, including selling assets to invest during its nascent stages. Leveraging his background in high-frequency trading systems, he co-founded Binance in July 2017 amid the initial coin offering boom. The platform quickly distinguished itself with competitive fees, an extensive selection of tokens, intuitive user interfaces, and later sophisticated derivatives products.
The exchange’s native BNB token offered fee discounts and broader ecosystem utilities, helping to foster user loyalty and value retention. Within months of launch, Binance surged to the top of global trading volume rankings, capitalizing on waves of retail enthusiasm and market cycles.
How Surging Crypto Adoption Built CZ’s Fortune
The foundation of CZ’s wealth lies in the dramatic expansion of cryptocurrency adoption worldwide. By 2026, an estimated 559 million people globally hold or use digital assets, representing nearly 10 percent of internet users and marking substantial growth from earlier years.
This surge has been driven by several interconnected factors. In emerging markets, individuals have turned to cryptocurrencies as hedges against inflation and unstable local currencies. Institutional investors have poured capital into the sector through instruments such as U.S. spot Bitcoin exchange-traded funds, while stablecoins have streamlined cross-border payments and settlements.
Binance has been a primary beneficiary, consistently commanding a leading share of both spot and derivatives trading volumes—often processing trillions of dollars annually. Even modest percentage-based trading fees on such massive activity have generated billions in revenue for the privately held company.
CZ’s reported ownership of roughly 90%5 of Binance has directly linked these operational successes to his personal net worth, creating a powerful feedback loop where greater liquidity and user growth enhance platform valuation and, in turn, his fortune.
Controversies and Legal Challenges
CZ’s rise has not occurred without substantial hurdles. In November 2023, Binance reached a landmark $4.3 billion settlement with U.S. authorities after pleading guilty to violations including anti-money laundering failures, operating an unlicensed money transmission business, and sanctions breaches. CZ stepped down as CEO, paid a $50 million fine, and pleaded guilty to one count related to inadequate anti-money laundering compliance.
Prosecutors had argued that the exchange prioritized rapid expansion over regulatory adherence, allowing illicit flows. In April 2024, a federal judge sentenced CZ to four months in prison—significantly less than the three years sought by prosecutors. He served the term and was released in September 2024. In October 2025, President Donald Trump issued a full pardon for CZ.
The episode drew sharp criticism from some lawmakers and observers, who viewed it as emblematic of compliance shortcomings during crypto’s rapid growth phase. Additional controversies have included civil claims linked to the FTX collapse and past allegations of market practices, which CZ has consistently denied. Following the settlement, Binance implemented enhanced compliance measures under new leadership, maintaining its market position amid evolving regulatory clarity.
CZ has since engaged in philanthropy, including support for prison education initiatives, and has spoken about lessons learned during his incarceration while advocating for balanced crypto regulations.
What the Milestone Represents
CZ’s surpassing of Gates illustrates how cryptocurrency’s network effects, global accessibility, and rapid innovation cycles can accelerate wealth creation far beyond traditional industries. At the same time, the controversies surrounding his career highlight ongoing tensions between disruptive technology and established regulatory frameworks.
As crypto continues to integrate with mainstream finance through expanded institutional tools and clearer rules in various jurisdictions, the fortunes of pioneers like CZ may increasingly reflect broader economic participation.
The Binance co-founder’s trajectory serves as both a benchmark of crypto’s potential and a reminder of the industry’s maturing responsibilities around trust, compliance, and governance.
Also read: OKX Founder Star Xu Slams Binance Over MiCA Crash
