Changpeng Zhao, founder of Binance, questioned Forbes’ estimate that his net worth reached $110 billion, a figure that would place him ahead of Bill Gates on the 2026 World’s Billionaires list.
Zhao responded to the ranking in a post on X, arguing that Binance’s valuation cannot be treated as static because its revenue is closely tied to crypto trading volumes and market prices.
“A bit illogical,”
Zhao wrote on X, referring to the methodology used to estimate his wealth based on the exchange’s value.
The billionaire ranking assumes a stable valuation for Binance, but Zhao said trading activity and fees fluctuate significantly depending on crypto market conditions.
Yi He, Binance co-founder and co-CEO, also commented on the estimate after sharing the Forbes article on X, adding that:
“A valuation is just a valuation.”
In a reply to a user asking whether Zhao was truly that wealthy, Yi He responded with a single word:
“No.”
The comments highlight ongoing debate about how to measure the wealth of crypto founders whose fortunes are closely tied to privately held exchanges and volatile digital asset markets.