In 2023, despite numerous challenges, former Binance CEO Changpeng Zhao (CZ) achieved significant personal financial success. Over 12 months, his net worth increased by nearly $25 billion. Brian Armstrong, CEO of Coinbase, also significantly increased his wealth in the past year, as reported by Bloomberg.
Over the year, Zhao's wealth increased more than fivefold compared to the fine Binance paid to U.S. authorities for money laundering. According to Bloomberg, CZ's capital is now valued at over $37 billion, including a controlling stake in Binance and ownership of BTC and BNB.
Despite the substantial increase, CZ's net worth is still far from its peak of $97 billion at the beginning of 2022. In July 2023, his capital reached $50.4 billion. Currently, his capital barely exceeds $37 billion.
In 2023, Zhao was not the only one to benefit from the crypto market. Bloomberg also notes the increase in wealth of Brian Armstrong, Fred Ehrsam, co-founder of Coinbase, and the Winklevoss brothers, co-founders of the Gemini cryptocurrency exchange. Sam Bankman-Fried (SBF), former CEO of FTX, found himself in a less fortunate situation, with his net worth estimated at $0 following charges and a possible long-term imprisonment sentence.
