Overview
- Forbes’ new list places Zhao 17th globally at an estimated $110 billion, narrowly above Bill Gates at $108 billion and up $47 billion from last year.
- Zhao publicly rejected the figure on X, saying it “defies logic” given this year’s sharp crypto price declines.
- Forbes bases the calculation largely on an estimated roughly 90% ownership of Binance and includes his reported crypto holdings.
- The ranking highlights Binance’s scale, citing about 38% global market share and roughly $30 trillion in annual spot and derivatives trading volume.
- Context for the scrutiny includes the 2023 U.S. DOJ case in which Zhao pleaded guilty, resigned, paid a $50 million fine and served four months, while Binance paid $4.3 billion and now under CEO Richard Teng stresses compliance and institutional partnerships.