CZ Responds to Forbes $110B Estimate: ‘A Bit Illogical’

Changpeng Zhao is not entirely convinced by his own rich list ranking after Forbes pegged his net worth at $110 billion, placing him above Bill Gates on the 2026 Worlds Billionaires list.

The Binance founder took to X to question the methodology behind the figure. The post drew over 44,000 views, with Binance co-founder Yi He adding a blunt “No” when a user asked whether CZ is really that wealthy.

Valuation Tied to Crypto Prices

CZ‘s core argument is straightforward: Binance’s valuation cannot be treated as static. As the worlds largest crypto exchange, it has revenue directly tied to trading volume, which rises and falls with crypto prices. Crypto winter means less trading. Lower prices mean lower fees. A fixed valuation, he argued, is therefore “a bit illogical.”

Given Binance‘s outsized market influence, questions about CZ’s incentives have long circulated in the industry. He addressed them directly: as a major shareholder, he only benefits when crypto prices rise. He added that he continues to lobby governments on behalf of the crypto industry, even without an operational role at Binance.

As a shareholder, I would love for Binance's valuation to increase. But the fact is, Binance's valuation can't increase when crypto prices are down.

It can't get simpler than that.

Stating the obvious:

Binance is the largest crypto exchange. It grows and shrinks with the… https://t.co/0UcrfxFijL

— CZ ???? BNB (@cz_binance) March 12, 2026

Beyond the Numbers

The more striking part of CZs post was its tone. Rather than celebrating the milestone, he distanced himself from it. Past a certain threshold, he wrote, more money does not bring more happiness — and that threshold is “fairly low.” Health, family, and positive impact matter more.

The rags-to-riches arc has long been part of CZ‘s personal brand — he has spoken openly about working at McDonald’s in his early years, long before building the worlds largest crypto exchange.

Yi He: ‘A Valuation Is Just a Valuation’

Yi He shared the Forbes article on X with her own take. The Binance co-CEO and co-founder noted that Forbes likely reassessed Binances value in light of recent industry fundraising news and the market performance of companies preparing for or completing IPOs. She thanked Forbes for the recognition — but added a caveat: “a valuation is just a valuation.”

In replies to that post, a user asked in Chinese whether CZ is really that wealthy. Yi Hes answer was one word: “No.”

Yi He, Binance co-CEO, responds “No” on X when asked whether CZ is really that wealthy as described by Forbes. Source: X

Appointed co-CEO in December 2025 alongside Richard Teng, Yi He has been central to Binance since its 2017 founding. Her comments add an insider dimension to CZs pushback — and suggest that at Binance, the Forbes number is being taken with more than a grain of salt.

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