TechFlow news Caijing magazine posted on Weibo this afternoon stating that the title of wealthiest ethnic Chinese person has changed hands, with Changpeng Zhao surpassing Zhong Shanshan, chairman of Nongfu Spring, with a net worth of $90 billion and entering the ranks of the world's top ten richest individuals.
According to sources cited by Caijing, Binance Exchange is valued at $300 billion, with Changpeng Zhao holding a 30% stake in Binance. Based on this, Zhao’s net worth has now reached $90 billion (approximately 573.3 billion yuan).
According to Forbes data from earlier this month, Zhong Shanshan of Nongfu Spring ranked first on the Chinese billionaires list with a net worth of 424.4 billion yuan. ByteDance founder Zhang Yiming (382.5 billion yuan), CATL founder Zeng Yuqun (327.2 billion yuan), and Tencent founder Ma Huateng (316.2 billion yuan) followed closely behind. In comparison, Zhao's net worth exceeds that of mainland China's richest individual, Zhong Shanshan, by 35%.
