The list of the richest Chinese-origin billionaires just shook up when on November 30, the mainland financial magazine “Finance” announced on Weibo that the founder of the cryptocurrency exchange Binance, Changpeng Zhao (CZ), overtook Zhong Shanshan, chairman of Nongfu Spring, to become the richest Chinese expatriate in the world with a net worth of $90 billion (over 2 million billion VND), also ranking among the top 10 richest people globally.
This news caused a stir on Chinese social media as many wondered who Changpeng Zhao really is to have surpassed the empire of China’s top beverage tycoon Zhong Shanshan. Even more surprising is that Zhao founded Binance in just four years.
Born in 1977 in Lianyungang, Jiangsu, China, Changpeng Zhao emigrated and became a Canadian citizen in the late 1980s. Known as “CZ,” he is now a major influencer in the cryptocurrency world.
Before founding Binance, Zhao had already established himself in Bitcoin. In 2014, he sold his Shanghai property and invested all his capital into Bitcoin. His youthful passion and risk-taking spirit helped him achieve early success in the crypto space.
On September 4, 2017, China announced new cryptocurrency regulations requiring all trading platforms to shut down by the end of the month.
At that time, Binance was only three months old. In October 2017, Zhao relocated all Binance employees and equipment overseas, spreading across more than 10 countries and regions worldwide. Binance took this opportunity to grow rapidly and become the largest crypto exchange in the world.
Zhao’s rapid rise was also thanks to a key figure, He Yi.
Before entering crypto, He Yi was a moderately well-known TV host. She later joined OKCoin, handling product development.
She was the one who brought Zhao into OKCoin as a technician. Without her guidance and support, Zhao might not have been able to found and grow Binance so spectacularly.
Zhao and He Yi are known in the industry as the “Golden Duo.” One handles tech and staff systems, the other focuses on marketing and product development.
Binance even has an all-female team called the “Binance 101 Girlgroup,” led by He Yi. What’s striking is how tough the requirements are to join this group.
He Yi posted recruitment ads on Weibo stating applicants must be female, fair-skinned, tall, well-endowed, attractive, articulate, experienced in livestreaming, and preferably born after 2000.
The crypto world is overwhelmingly male, so using female IP accounts on exchanges is an effective way to attract customers and increase traffic.
Zhao has lived in Canada, Japan, Singapore, and moves every five years. He calls himself a “typical global citizen” because of this lifestyle.
Now topping China’s richest list, Zhao remains unable to openly appear in China.
