CZ Denies Bloomberg’s $28 Billion Estimation of his Wealth
- CZ has denied several mainstream reports about Binance.
- Bloomberg’s analysis concluded that CZ’s net worth amounts to roughly $28.2 billion, placing him in third place on their list of the 25 wealthiest people.
- Although the majority of those on the list would be pleased, CZ was surprised by the numbers and criticized Bloomberg for their supposed misleading narrative.
Bloomberg recently released its latest financial ranking and placed Binance CEO, Changpeng “CZ” Zhao as one of the top three finance billionaires globally, with an estimated net worth of $28.2 billion. Bloomberg estimates the 46-year-old’s year-to-date return (YTD) at around $9.75 billion, along with a 77.5% gain. However, the Binance boss was far from impressed by these claims and took to Twitter to clear the air.
CZ, who is also ranked as one of Asia’s richest men, dismissed claims about his personal wealth, noting that the “numbers are all wrong. I don’t have anywhere near as much. Don’t know why they do this.” CZ begins his tweet with the number 4, which he uses to mean “Ignore FUD, fake news, attacks, etc.”
CZ also addressed the alleged rivalry between Binance and FTX. The Binance CEO noted that FTX was never considered a rival, adding that Binance encourages other well-run exchanges in the industry.
CZ’s recent attempt to draw attention to factual errors in reporting is consistent with the CEO’s criticism of how the crypto industry is portrayed in stories by mainstream media. The Binance boss has consistently refuted stories from reputable mainstream outlets like Bloomberg and Forbes, frequently labeling their articles as being filled with “FUD,” or fear, uncertainty, and doubt. CZ previously dismissed a Bloomberg article that claimed Binance had considered severing links with its American business partners.
Despite CZ’s refusal to accept the figures given, the Bloomberg report emphasizes the expanding relevance of the cryptocurrency sector and the rise of new financial heavyweights.