Binance CEO Changpeng “CZ” Zhao said he plans to donate 99% of his wealth, as many business people do.
Zhao used the following statements in an Associated Press interview published yesterday:
“I plan to donate most of my wealth, as many wealthy entrepreneurs or founders have done. I plan to give 90, 95 or 99% of my wealth. ”
Zhao said that he is personally financially free and does not need a lot of money. Zhao’s reported net worth is around $2 billion. But Zhao is the largest shareholder of Binance, which is said to be worth up to $300 billion. This means that his equity will make him very rich. Industry analysts estimate that Zhao’s net worth is more than $200 billion.
Which Cryptocurrencies Does He Own?
Zhao told the AP that he only owns Bitcoin and Binance Coin (BNB). Noting that he first bought Bitcoin in 2014 and holds most of it, he added that the majority of his net worth is in BNB. Zhao does not hold any other cryptocurrency to avoid “possible conflicts of interest.”
Apparently, this is the first time Zhao has announced his intention to donate. Many iconic entrepreneurs have also pledged to donate most of their wealth, including Bill Gates, Mark Zuckerberg and Michael Bloomberg.
