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Binance CEO Changpeng Zhao Overtakes Bitmain Co-Founder Micree Ketuan Zhan In New Hurun Rich List

Changpeng Zhao (CZ), the CEO of Binance, has overtaken Micree Ketuan Zhan, the Co-founder of cryptocurrency mining giant Bitmain, in the latest Hurun Global Rich List, an annual ranking of the world’s biggest billionaires published Chinese media Hurun Report.

Binance’s CZ Overtakes Bitmain Co-Founder in New Hurun Rich List — Criptomonedasyeconomia (@Economiaenllam1) February 27, 2020

A new report says that while China has now more billionaires than the United States and India combined, CZ might have more money than any crypto person.

On February 26, it has been reported that the new Hurun Report’s list of 2,816 global billionaires includes six individuals, who made their fortune from the blockchain and crypto industry.

Similar to previous compilations by the Hurun Research Institute, the Hurun Global Rich List 2020 includes well-known names in the industry such as:

  1. Changpeng Zhao, CEO of Binance,

  2. Xu Mingxing, Founder of OKCoin, and

  3. Chris Larsen, Co-founder and former CEO of Ripple.

However, the latest Hurun blockchain billionaires list has at least one significant change — Bitmain’s ousted co-founder Micree Ketuan Zhan, who is known as the long-term leader in the list, has fallen behind Binance CEO.

It has been analyzed that in one of the previous annual lists of the world’s biggest billionaires, the Hurun Global Rich List 2019, Zhan was ranked as the top billionaire among five crypto and blockchain billionaires, with an estimated wealth of $2.7 billion. In the latest Hurun list, Zhan has slipped to the second rank, with net worth standing at $1.6 billion.

At the same time, according to the publicly available lists, CZ’s rank has notably surged from $1.3 billion in 2019 to $2.6 billion in 2020.

The six wealthiest blockchain and crypto people in the latest Hurun list are:

  1. Binance CEO Changpeng Zhao ($2.6 billion).

  2. Bitmain’s ousted Co-founder Micree Zhan Ketuan ($1.6 billion).

  3. OKCoin’s Founder Xu Mingxing ($1.4 billion).

  4. Ripple’s Chris Larsen ($1.3 billion).

  5. Huobi’s Founder Leon Li ($1.1 billion).

  6. Brian Armstrong, Co-founder, and CEO of major United States crypto exchange Coinbase ($1 billion).

Likewise, the Bitmain’s co-founder dip in the Hurun billionaire rankings comes after Zhan was removed as a legal representative of the company in November 2019. As per the report, Zhan was dismissed by Bitmain’s current CEO Jihan Wu.

In January 2020, Zhan publicly opposed alleged layoffs at Bitmain, which was reportedly planning to cut its workforce by 50% in relation to the upcoming Bitcoin (BTC) halving in May 2020. Zhan also reportedly initiated court proceedings against Bitmain shareholders to restore his voting control of the firm.

It has also been analyzed that Zhan’s removal from Bitmain preceded reports on Bitmain seeing its hashrate market share drop from 75% to 66% in December 2019.

Thus, in the meantime, Binance’s CZ has been getting more and more traction in the crypto community to become the top-ranked crypto person in the Cointelegraph’s first-ever Top 100 lists.

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