Current Assessment
Zhao co-founded Binance in 2017 and remains tied to the company's private equity value after stepping down as CEO in 2023. Bloomberg credits him with 90% of Binance and applies a large risk discount because the exchange is private, opaque, and heavily regulated. Direct crypto holdings may add value, but the amounts are not public.
Key caveats
- Binance is private, so the estimate depends on valuation models rather than public market prices.
- Regulatory penalties and litigation history materially affect valuation risk.
- Known direct holdings of Bitcoin and BNB are not quantified and are not added separately.
Evidence gaps
- Current Binance cap table
- Audited Binance financials
- Verified personal crypto balances
- Current personal liability status
