Canadian crypto CEO worth $65B cracks top 20 of the richest people in the world

Sep 6 2022, 9:51 pm

This Canadian crypto CEO has made it onto another list of the richest people in the world.

On Tuesday, Forbes released its 36th annual ranking of the planet’s billionaires, which includes 2,668 of the richest people on the planet.

“They’re worth a collective $12.7 trillion—$400 billion less than in 2021,” reads the ranking.

Changpeng Zhao, CEO of cryptocurrency exchange Binance, cracked the top 20 with a net worth of USD$65 billion. This makes him the wealthiest Canadian and the richest crypto entrepreneur on earth.

Ranked as the 19th richest person in the world, Zhao has come a long way from his 1818 spot in 2019.

Born in Jiangsu, China, Zhao (also known as CZ) moved with his family to Vancouver in the late 1980s after his dad got a job at the University of British Columbia. He completed a computer science degree at McGill University in Montreal, and his interest in cryptocurrency was sparked after a discussion at a poker game in 2013, according to Bloomberg.

Zhao started Binance in 2017 and by 2018, it was the largest cryptocurrency exchange in the world.

The company continues to make moves. According to Forbes, Binance announced its plans to spend $200 million to buy a minority stake in the business magazine in February.

Zhao trails behind Elon Musk and Jeff Bezos, who made first and second place on the list.

He wasn’t the only Canadian on there. David Thomson, the chairman of the Thomson Reuters Corporation, and his family claimed the 26th spot with a net worth of $49.2 billion.

They control a media and publishing empire founded by their grandfather Roy Thomson.

Earlier this year, Zhao also made it on to The Bloomberg Billionaires Index, ranking as the 11th richest person globally.

Forbes says they used stock prices and exchange rates from March 11, 2022, to calculate net worths.

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