Changpeng Zhao, founder of cryptocurrency exchange Binance, briefly surpassed Bill Gates on the Forbes 2026 billionaires list with an estimated net worth of $110 billion. Gates was listed at $108 billion.
The valuation is almost entirely based on CZ's estimated 90% ownership stake in Binance. The exchange holds about 38% of the global crypto trading market.
CZ publicly disputed Forbes' number shortly after its publication, citing a more than 50% drop in major cryptocurrency prices throughout 2026. This market decline would logically lower the value of a crypto business.
The dispute highlights the extreme difficulty in valuing private crypto companies. Wealth trackers now show a massive gap: Forbes has revised its estimate to approximately $107 billion, while Bloomberg's figure stands at around $78 billion.
Binance's valuation is challenging because it is not publicly traded. Estimates rely on revenue models and comparable analysis, which become highly speculative during a market downturn. The company has also navigated significant regulatory hurdles, including a $4.3 billion U.S. settlement and CZ's own brief prison sentence.