Changpeng Zhao, known as CZ, a founder and formal CEO of Binance, has seen his net worth increase by nearly $25 billion this year, according to the Bloomberg Billionaires Index. This substantial growth in wealth positions him at the forefront of crypto billionaires in 2023. The rise follows the market rebound where Bitcoin surged more than 160%, after the collapse in 2022. CZ’s current fortune, primarily from his stake in Binance, is now estimated at over $37 billion. Despite this increase, his wealth is still below its peak of nearly $97 billion in early 2022.
Brian Armstrong, CEO of Coinbase, and the Winklevoss twins also witnessed significant increases in their wealth. Armstrong’s net worth rose by $5.8 billion to $7.2 billion, while each of the Winklevoss brothers saw an increase of $1.4 billion, reaching $2.7 billion. Barry Silbert, founder of DCG, experienced a growth of $1.5 billion, with a current estimated wealth of $2 billion.
In stark contrast, Sam Bankman-Fried, the former CEO of FTX, convicted of fraud, has seen his fortune plummet to $0 from a peak of $25.9 billion last year.
