CEO of the world’s largest crypto exchange by daily trading volume, Changpend Zhao (CZ) wants to donate 99% of his wealth in the future. The CEO’s remarks came during his interview with Associated Press on November 17.
“I do intend to give away most of my wealth, like many wealthy entrepreneurs or founders did from Rockefeller [late American business magnate John D. Rockefeller] until today. I do intend to give away 90, 95, or 99% of my wealth,” said the CEO, whose net worth is approximately $1.9 billion.
Founded in 2017 by CZ, Binance quickly emerged as the largest crypto exchange in the world. While CZ started investing in Bitcoin in 2014, he held on to most of his Bitcoin investments and holds his majority of net worth in Binance Coin.
It is worth mentioning that CZ owns the majority of stakes in Binance, which currently has a valuation of up to $300 billion. Even if he sells the majority of his stakes at the current valuation, the CEO and founder could be worth up to $200 billion.
Talking about the popularity of Memecoin, CZ remarked, “to be honest, I don’t get dogecoin.” However, he remarked that this surge in its prices embodies the power of decentralization. He noted:
“What I think may or may not matter. If a large enough number of people in the community values it because it’s cute, because they like the meme, then it has value.”