Changpeng Zhao, the founder of Binance and known in the crypto community as CZ, has seen his net worth soar while serving time in Santa Barbara’s Lompoc minimum security prison.
Despite legal challenges, including a guilty plea to anti-money laundering and sanctions violations, CZ’s wealth has increased significantly. Here’s how he managed to double his net worth behind bars:
Binance’s Growth: Even after stepping down as CEO of Binance, CZ’s 90% equity stake in the company is valued at $33 billion1.
Binance has increased its dominance in the crypto exchange market, now accounting for 42% of the total spot market across exchanges1.
BNB Token Surge: The most significant boost to CZ’s net worth comes from his personal holdings in Binance’s exchange-issued token, BNB.
Forbes estimates that he holds about 94 million BNB tokens, which is 64% of the total circulation1. BNB’s value has surged by 100% in 2024, far outpacing other top cryptocurrencies1.
CZ’s current estimated net worth is $61 billion, placing him as the 24th richest person globally1. His financial growth, even while incarcerated, highlights the volatile and dynamic nature of the cryptocurrency market.
