CZ refutes Forbes estimate placing his wealth above Bill Gates

Binance founder Zhao Changpeng (CZ) has refuted a Forbes wealth ranking that estimated his net worth at $108.9 billion, placing him ahead of Bill Gates as the world's 18th-richest person. According to U.Today, Forbes recently updated its list, attributing the increase in CZ's wealth to Binance's rising valuation. Forbes noted that CZ owns approximately 90% of the exchange, which generates around $16 billion in annual revenue, and that his net worth surged by $47 billion over the past year despite a more than 50% drop in cryptocurrency prices. In a post on X, CZ questioned the estimate's logic, asking how his net worth could increase while crypto prices fell by over 50%. When another X user commented that the Forbes billionaire list is merely an estimate and consists of "randomly guessed numbers," CZ replied, "That's correct."