CZ Is Now Richer Than Bill Gates, According to Forbes
Changpeng Zhao, the billionaire founder of Binance, is now estimated to be wealthier than Microsoft co-founder Bill Gates, according to Forbes’ real-time billionaire rankings.
Forbes placed Zhao, widely known as CZ, at approximately $107.7 billion and ranked him as the world’s 18th-richest person. Gates followed in 19th place with an estimated fortune of about $105.9 billion.
The figures put Zhao roughly $1.8 billion ahead of one of the best-known technology billionaires in history.
However, the ranking comes with an important qualification: billionaire net-worth figures are estimates that can change daily, and Zhao has publicly disputed Forbes’ calculation of his fortune.
Forbes ranks CZ above Bill Gates
Forbes’ real-time billionaires list recently placed CZ at number 18 globally, immediately ahead of Gates at number 19.
The ranking estimated their fortunes at:
- Changpeng Zhao: $107.7 billion
- Bill Gates: $105.9 billion
The difference is relatively small by billionaire-ranking standards. Movements in cryptocurrency prices, company valuations, investments or newly disclosed assets could quickly reverse their positions.
Forbes had already ranked Zhao above Gates in its annual 2026 World’s Billionaires list.
In March, the publication estimated Zhao’s net worth at $110 billion, up from about $63 billion the previous year. That increase placed him 17th globally and made him one of only 20 people on the list whose fortunes exceeded $100 billion.
Forbes described Zhao as one of the richest people ever to build most of his wealth from cryptocurrency.
Where does CZ’s wealth come from?
Most of Zhao’s estimated fortune is tied to Binance, the cryptocurrency exchange he founded in 2017.
Forbes estimates that he owns approximately 90% of the privately held company. It also attributes part of his wealth to holdings of BNB, the cryptocurrency associated with the Binance ecosystem.
Binance grew rapidly after its launch and became the world’s largest cryptocurrency exchange by trading volume.
The company generates revenue from activities including:
- Cryptocurrency trading fees
- Derivatives
- Token listings
- Custody
- Institutional services
- Staking products
- Blockchain infrastructure
- Other digital-asset services
Because Binance is privately held, estimating its value is much more difficult than valuing a publicly traded business.
There is no continuously visible market price for Binance shares. Wealth publications must instead estimate the company’s revenue, profits, ownership structure and likely valuation.
That makes Zhao’s reported fortune less precise than the wealth of a billionaire whose assets are mainly tied to publicly traded shares.
Why Forbes increased CZ’s net-worth estimate
Forbes said Zhao’s fortune rose by approximately $47 billion between its 2025 and 2026 annual rankings.
The publication linked much of the increase to a higher estimated valuation for Binance.
Forbes calculated that Zhao’s estimated ownership of the exchange accounted for the majority of his wealth. His reported BNB holdings added further value.
A relatively small change in the assumed value of Binance can produce a large change in Zhao’s estimated fortune because he is believed to own such a large percentage of the company.
For example, increasing Binance’s estimated valuation by tens of billions of dollars could add a similar amount to Zhao’s paper wealth.
The same effect works in reverse. A lower exchange valuation, weaker revenue or declining crypto prices could reduce the estimate quickly.
CZ says the valuation is inaccurate
Zhao has publicly rejected Forbes’ estimate.
Responding to reports that his net worth had risen to approximately $110 billion, he described the figure as inaccurate and characterised billionaire rankings as a “guess a number” exercise, at least in his case.
He questioned how his wealth could have increased so substantially during a period in which cryptocurrency prices had fallen sharply from their highs.
His response highlights a central problem with estimating the fortunes of founders of privately held companies.
Forbes does not have direct access to Zhao’s bank accounts, private wallet balances or every detail of his Binance ownership.
Its figure is an informed estimate based on available financial information, industry comparisons and assumptions about the value of Binance and Zhao’s assets.
Therefore, the claim should be stated carefully:
Forbes estimates that CZ is richer than Bill Gates. It is not a confirmed statement of exactly how much money Zhao owns.
A crypto founder joins the $100 billion club
Zhao’s position is significant for the cryptocurrency industry.
Crypto has created several billionaires, but only a small number have approached the wealth of the founders behind the world’s largest technology, retail and luxury companies.
Zhao’s estimated fortune now places him in a group that includes:
- Elon Musk
- Jeff Bezos
- Mark Zuckerberg
- Larry Ellison
- Jensen Huang
- Warren Buffett
- Michael Bloomberg
- Bill Gates
His rise reflects the scale Binance achieved within less than a decade.
The exchange launched in 2017 and quickly grew into one of the most influential companies in the digital-asset industry.
Zhao is no longer Binance’s chief executive, but his estimated ownership means the exchange remains the main source of his wealth.
Net worth is not the same as cash
A $107.7 billion net worth does not mean Zhao has that amount sitting in a bank account.
Net worth is calculated by estimating the value of a person’s assets and subtracting their known liabilities.
In Zhao’s case, the estimate is likely dominated by:
- His Binance ownership
- BNB holdings
- Other cryptocurrency assets
- Private investments
- Cash and conventional investments
Most of this wealth may be difficult to sell quickly.
Attempting to sell a large part of Binance or a major crypto position could affect its market value. Taxes, ownership restrictions and limited buyers for private company shares could also reduce the amount Zhao would receive.
His liquid wealth may therefore be much smaller than the headline figure.
The same principle applies to other billionaires, whose fortunes are often concentrated in company shares rather than cash.
