Changpeng Zhao increased his own profits by $ 12 billion thanks to Donald Trump

Donald Trump’s victory in the US presidential election has had a significant impact on the financial situation of Чанпен Чжао" href="https://noworries.news/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao, the founder of the cryptocurrency exchange Binance. Thus, his capital grew by $ 12.1 billion, which became possible due to the growth of the crypto market and the increase in the value of his company.

According to the Bloomberg Billionaires Index, he is ranked 25th among the richest people in the world, and his total wealth was estimated at $ 52.7 billion, with an increase of $ 18.3 billion since the beginning of 2024.

The majority of Changpeng Zhao’s wealth is made up of Binance shares, which he continues to hold a controlling stake in.

As you know, Binance has invested $ 500 million in the past in the acquisition of the Twitter social network by Elon Musk, which is now known as X. Despite the decline in the company’s market value, Zhao is satisfied with the situation, as Elon Musk and his social network X actively supported Trump during his campaign, which contributed to his victory. Such support is expected to secure the new US administration’s favorable attitude toward Musk’s companies.

«With Elon’s arrival at X, changes are happening faster, new features are being added, and overall, processes have become more dynamic. I don’t care how the company’s value changes, because we invest with a long-term perspective,» Zhao said.

It is reported that Musk’s own fortune grew by $ 26.45 billion between November 5 and 7, 2024, due to a jump in the value of Tesla shares, which is also due to the victory of Trump, whom the entrepreneur supported.

Musk is currently at the top of the billionaires' ranking with a net worth of $ 290 billion, followed by Jeff Bezos with a net worth of $ 228 billion.

As a reminder, former Binance CEO Changpeng Zhao has been banned from returning to the company for life. Initially, a temporary ban for three years was reported, but his exclusion became permanent.

Earlier, a record increase in the price of Binance’s token, BNB, made its founder Changpeng Zhao the richest person who has ever served a term in a US federal prison.