Binance CEO Changpeng Zhao Overtakes Reliance's Mukesh Ambani as Asia’s Richest: Report

Changpeng Zhao, the CEO of crypto exchange Binance has become the richest man in Asia with an estimated net worth of a whopping $96 billion (roughly Rs. 7,10,755 crore). As per a Bloomberg report, the 45-year-old entrepreneur has surpassed Indian business tycoon Mukesh Ambani of Reliance in the ranking. Ambani's net worth stands at around $92.6 billion (roughly Rs. 6,85,418 crore) presently. Tesla chief Elon Musk is on top of the list with an estimated fortune of $263 billion (roughly Rs. 19,47,409 crore).

Zhao is now officially the 11th richest man in the world, as per the Bloomberg Billionaires' Index. His crypto exchange Binance, in recent years, has managed its position as the biggest in the sector in terms of trading volume, Cointelegraph said in a report citing Bloomberg on Monday, January 10.

The entrepreneur has also become the first one to enter the list of billionaires from the crypto space. He has secured the 11th spot without the valuation of his personal crypto assets included, which can be expected to be huge.

On his Twitter wall, Zhao reacted to the development with a special message to his 4.8 million followers. Take a look.

Zhao set up Binance in 2017 with its office in China. Later, when China began tightening the noose around crypto activities in the country, Zhao moved his business out of the Asian nation.

In order to stay top of the game, Zhao has been maintaining a streak of partnerships and acquisitions with other crypto players from around the world.

According to Bloomberg's estimation, Zhao stands just behind Oracle co-founder Larry Ellison, whose net worth currently leads by roughly $107 billion (roughly Rs. 7,90,623 crore).

Amazon founder Jeff Bezos secured the second spot on the list with his net worth being projected at around $188 billion (roughly Rs. 13,92,064 crore).

Bill Gates, followed by Mark Zuckerberg and Larry Page ranked at 4th, 5th, and 6th positions, respectively.