Changpeng Zhao Biography
Zhao was born in the Chinese province of Jiangsu. He moved to Canada with his family in the late 1980s, when he was 12 years old, and settled in Vancouver, British Columbia. Both of his parents were teachers in China. Before being labeled a “pro-bourgeois intellect” and exiled to rural areas shortly after Zhao’s birth, his father worked as a university instructor. Zhao supported his family during his adolescence by working a variety of service jobs, including at a McDonald’s.
Zhao majored in computer science at McGill University in Montreal, Quebec.
Changpeng Zhao Career
Changpeng Zhao, abbreviated “CZ,” is a Chinese Canadian business executive. Zhao is the co-founder and CEO of Binance, which as of July 2022 had the world’s largest cryptocurrency exchange by trading volume.
Zhao was chosen for an internship in Tokyo after graduating from university, working for a Tokyo Stock Exchange subcontractor developing software for matching trade orders. He then worked full-time for four years as a developer of futures trading software at Bloomberg Tradebook.
He relocated to Shanghai in 2005 and founded Fusion Systems, which is known for “some of the fastest high-frequency trading systems for brokers.”
He was a member of the team that created Blockchain.info in 2013 and also served as the Chief Technology Officer of OKCoin. Following its July 2017 launch, the Binance cryptocurrency exchange was able to raise $15 million in an initial coin offering, and trading began eleven days later. Zhao grew Binance into the world’s largest cryptocurrency exchange by trading volume in less than eight months (as of April 2018). Binance.US, Zhao’s U.S. affiliate, was launched in 2019. Binance has withdrawn its application to operate a Singapore-based cryptocurrency exchange in 2021.
Changpeng Zhao Personal Life
Zhao stated that he intends to donate up to 99% of his wealth, following in the footsteps of other business magnates.
According to a Reuters investigation into Binance, Zhao had a “several years” romantic relationship with former Chinese travel television show host and Binance co-founder Yi He. She later had a son in the United States. In 2022, Zhao invested $500 million through Binance to finance Elon Musk’s acquisition of Twitter.
Changpeng Zhao Net Worth
According to the Bloomberg Billionaires Index, Zhao is the 136th richest person on the planet, with a net worth of $13.1 billion as of December 2022.