Forbes estimates Zhao's net worth at $61 billion, making him the 24th richest person in the world.
According to Forbes, former Binance CEO Changpeng Zhao (CZ) owns 64% of the circulating supply of Binance Coin, which is approximately 94 million BNB tokens.
According to a forensic analysis conducted by Gray Wolf Analytics and the financial media, 80 million BNB tokens were allocated to the Binance founding team, and the company still controls 46 million of the original tokens.
The report also states that Binance and Zhao Changpeng together hold 71% of the 147 million BNB in circulation. Zhao Changpeng’s 90% stake in Binance and the value of his cryptocurrency holdings make him the 24th richest person in the world, with an estimated net worth of $61 billion.
BNB Token Economics
BNB is the native token of the Binance exchange and is used to pay fees and rewards on the Binance platform. The maximum supply of this utility token is 200 million, and there are more than 153 million BNB tokens in circulation.
At a price of $593 per coin, BNB currently has a market cap of over $91 billion. BNB has been on a bull run, with the token price more than doubling from a low of around $290 in January 2024 to a high of $724 in June.
Ministry of Justice v. Czech Republic
In 2023, the U.S. Department of Justice (DOJ) announced an indictment against Changpeng Zhao and Binance, alleging violations of sanctions and money laundering laws. Changpeng Zhao, then CEO, reached a plea agreement with U.S. prosecutors.
CZ admitted to violating the Bank Secrecy Act and agreed to resign from Binance's leadership; current CEO Richard Teng took over his position. The settlement also includes a $50 million fine for the former CEO and a whopping $4.3 billion fine for Binance. In addition, the U.S. Department of Justice has appointed an independent consulting firm, Forensic Risk Alliance, to serve as Binance's monitor for the next three years.
On April 30, Zhao Lijian was sentenced to four months in prison by U.S. federal judge Richard Jones, which is a far cry from the three-year prison sentence recommended by U.S. prosecutors for Zhao Lijian's alleged evasion of sanctions and assisting in money laundering.