Binance CEO Changpeng Zhao is now the 11th richest person on Earth, according to a report by Bloomberg.

The 44-year-old, commonly known as CZ, is currently worth around $96 billion. He surpassed Mukesh Ambani, Asia's richest billionaire, and is nearly on par with Facebook founder Mark Zuckerberg, who is worth $124 billion.

Bloomberg estimates that Zhao owns around 90% of Binance. Its approximation, however, does not take into account his personal holdings of cryptocurrencies such as bitcoin and Binance coin.

Binance coin is the third-largest cryptocurrency by market capitalization on the globe, according to Bankrate.

Other notable crypto founders who recently became billionaires are Coinbase CEO Brian Armstrong and Ethereum founder Vitalik Buterin. Satoshi, the name used by the presumed unidentified person who created Bitcoin, is worth $45.8 billion, according to Business Insider.

A spokesperson for Binance told CNN Business that “CZ intends to give away most of his wealth, even 99% of his wealth, just like other entrepreneurs and founders."

Despite enduring seemingly significant setbacks, such as major restrictions in Canada and the United Kingdom, Zhao believes that "more regulations are, in fact, positive signs that an industry is maturing... because this sets the foundation for a broader population to feel safe to participate in crypto."

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