Entrepreneurs

He Xiangjian Net Worth

He Xiangjian built massive wealth in China, manufacturing home appliances to make him one of the richest men in the world.

Published

2 months ago

Apr 9, 2023

John Mulder

What is He Xiangjian’s net worth?

Net Worth: $27 Billion

Age: 80

Born: October 5, 1942

Gender: Male

Height: 1.64 m (5 ft 5 in)

Country of Origin: China

Source of Wealth: Entrepreneur

Last Updated: March 8, 2023

Net Worth:	$27 Billion
Age:	80
Born:	October 5, 1942
Gender:	Male
Height:	1.64 m (5 ft 5 in)
Country of Origin:	China
Source of Wealth:	Entrepreneur
Last Updated:	March 8, 2023

Table of Contents

Introduction

He Xiangjian’s wealth was built on the back of his entrepreneurial skills, resulting in the Midea Group becoming the largest appliance manufacturer in China.

Xiangjian is one of China’s richest men and thirty-five of his employees have a net worth of more than a billion dollars.

The Chinese government believes that the company’s wealth is due to corrupt deals. His net worth is now open to debate as the Chinese government has started multiple corruption cases against him.

As of June 2023, He Xiangjian’s net worth is estimated to be $27 Billion.

He Xiangjian Facts

The Midea Group is one of the world’s largest appliance makers and was co-founded by He Xiangjian and a mysterious group of investors.
Most of his wealth is from his 30% stake in the Midea Group.
20 out of every 100 air conditioners in the world are manufactured by Midea.
He Xiangjian enjoys sports and plays volleyball and tennis as hobbies.
Comedian Sam Richardson starred as the ‘Chief Idea Officer’ in Midea’s U.S Brand launch campaign.

Early Life

He Xiangjian was born October 5, 1942, in Shunde, China.

There is not much known about He Xiangjian’s childhood as he has not revealed much about his family.

What we do know, is that his hunger for business started at a young age. While he was young, he started producing bottle lids and caps on a very low budget.

To increase the mystery factor, it is said that He Xiangjian never attended high school.

He Xiangjian grew up in poverty and it is said that his family did not even have enough money to buy bread. With this in mind, He Xiangjian feeds over two hundred thousand people free of charge every day.

Career

Once he saved 5,000 Yuan, Xiangjian created his first proper business in the same way that Changpeng Zhao started a business to help his family. He Xiangjian went from producing bottle caps to help feed his family, to producing furnished goods and then electrical appliances.

He started building the company at the age of twenty-six with the help of villagers in the city of Beijiao.

Unfortunately, the business was started at the time of communism’s rise in China. This was a problem for the company’s growth, as the communist government at the time did not want to promote private companies.

He’s company could not progress much for the next thirty-two years. But, after China’s move to a capitalistic economic structure, the company could finally progress and grow.

Midea Group became one of the biggest appliance makers in the whole of China. With this success, he decided to venture internationally

In the 1990s, the Midea Group was turned into one of the biggest appliance businesses worldwide.

The Midea Group had become a billion-dollar company by 1992 and according to figures reported in 2012, there are about thirty-five employees within the company who have a net worth of over a billion dollars.

Trading of its shares was suspended a few years ago due to a “critical matter” at the Midea Group. The government announced that the reason was because of a problem occurring during the merger of an unlisted company with Shenzhen-listed, GD Midea.

Because of government interference, the company began to struggle. Sales dropped dramatically and He stepped down as head of the company in 2012, even though the company needed active leadership.

After He Xiangjian’s retirement, his son took over as the managing director of the Midea Group.

He Xiangjian’s Career Earnings

He Xiangjian continues to be involved in the company as a controlling stakeholder, providing direction from behind the scenes.

His family control about a third of the business while He Xiangjian is enjoying a comfortable retirement away from the day-to-day business operations.

Here is an estimated overview of He Xiangjian’s annual income:

He Xiangjian’s Salary In 2017 – $1.2 billion
He Xiangjian’s Salary In 2018 – $1.5 billion
He Xiangjian’s Salary In 2019 – $1.6 billion
He Xiangjian’s Salary In 2020 – $1.8 billion
He Xiangjian’s Salary In 2021 – $1.9 billion
He Xiangjian’s Salary In 2022 – $2 billion

Despite the Chinese government’s accusations, He is still very much involved in the company’s affairs and continues to enjoy a huge income on the back of the company’s massive profits.

He Xiangjian’s Net Worth Annually

Unsurprisingly, He Xiangjian managed to increase his personal wealth as his company grew. Despite the setbacks and obstacles the Chinese government put in his way, He’s business is still thriving.

Here’s a breakdown of He Xiangjian’s annual net worth:

He Xiangjian’s Net Worth In 2017 – $20 billion
He Xiangjian’s Net Worth In 2018 – $22 billion
He Xiangjian’s Net Worth In 2019 – $24 billion
He Xiangjian’s Net Worth In 2020 – $26 billion
He Xiangjian’s Net Worth In 2021 – $28 billion
He Xiangjian’s Net Worth In 2022 – $30 billion

Unless something untoward happens to He Xiangjian, his enormous wealth will continue to grow as the demand for consumer goods worldwide is enormous. China can supply these consumables at a cheaper price than anywhere else, so his company enjoys a massive competitive advantage.

Personal Life

Not much is known about He Xaingjian’s personal life. What we do know, is that he is married and has three children. His son, He Jianfeng, is currently the managing director of the Midea Group and Midea Group Real Estate Holding.

He currently resides in Foshan, which is the same town in which he was born. He lives in Junlan International Golf Life Village, which was developed by the Midea Real Estate Group.

He Xiangjian is a recognized art collector and is the founder of the He Art Museum. It is a non-profit museum that is privately funded and was designed by Tadao Ando.

In 2020, it was reported that there was an attempted kidnapping of He Xiangjian. It was said that the kidnappers broke into his villa but his son, He Jianfeng, escaped the villa and swam across a river to alert the police. Five suspects were arrested after the police rescued He Xiangjian.

Awards & Achievements

He’s achievements are nothing short of spectacular given his poor background and the constraints of trying to grow a business under communism.

And when he reached the pinnacle of business success, he didn’t forget where he’d come from, making sure that he regularly contributed to charities and feeding schemes.

Here are some of the more memorable moments from He Xiangjian’s career:

He has been ranked as the 36th richest person in the world by Forbes.
He has been named Charity King of China since 2013.
The Midea Group has more than 200 subsidiaries, including a robotics firm, Kuka, located in Germany.
In 2018, He Xiangjian was awarded Reform Pioneer medals along with Jack Ma, founder of Alibaba, and Liu Chuanzhi, the founder of Lenovo.

With China irrevocably on the path to a capitalistic economy, He Xiangjian’s company and his shares in it will ensure his wealth endures. Unless, of course, the government decides that they want some of the action, and take it from him.

How Does He Xiangjian Spend His Money?

He Xiangjian is known to be the most charitable self-made billionaire in the whole of China. The only video available of He Xiangjian is of him on a stage announcing that he would be donating $875 million to charity.

With his early life experience of not being able to afford food, He Xiangjian feeds over two hundred thousand people daily, absolutely free of charge.

It is unlikely that he drives any of the most expensive cars in the world, but we’re sure that his garage is stocked with the best wheels that China has to offer.

Highlights

He Xiangjian is a workaholic who will stop at nothing to make his business bigger and stronger each year.

Xiangjian continues to help direct the company he started, even though his son is now the managing director and is following in his footsteps.

Here are some of the best highlights of He Xiangjian’s career:

In 1968, He Xiangjiian employed 23 villagers from the town of Beijiao to help create a lid production workshop, which eventually became the Midea Group.
He Xiangjian built up the Midea Group from a tiny nest egg investment, starting at the age of 26.
In 2020, there was an attempt to kidnap He Xiangjian. Five suspects were arrested following the incident. This created a lot more hype around He Xiangjian.
He Xiangjian is proud that his son, He Jianfeng, is now the managing director of the Midea Group as well as the Midea Real Estate Holding following his retirement.

The young He Xiangjian could never have imagined that one day his tiny company which employed a handful of villagers, would one day employ thousands of staff across the country.

After setting up his huge corporation, the next generation of Xiangjian’s family are now taking the business to the next level.

Favorite He Xiangjian Quotes

Unfortunately, He Xiangjian rarely grants interviews or speaks publicly. He doesn’t speak Mandarin very well either, even though it is the national language.

Here is our favorite (and only) quote from He Xiangjian:

“I walk a step or two behind, rather than take half a wrong step.” – He Xiangjian

3 Amazing Lessons From He Xiangjian

What we know of He, is that he is a strong leader with a visionary approach to doing business.

Now that you know all about He Xiangjian’s net worth, here are some of the best success lessons to learn from He Xiangjian:

1. You Too Can Succeed

No matter the lifestyle you are living, you too can succeed believes He. With a poor family and starting with nothing to his name, He created a billion-dollar business.

2. Give Back To The Community

Knowing what it was like in his early years, He Xiangjian donates and feeds hundreds of thousands of people every day to ensure that they do not go through what he went through as a child.

3. Never Give Up Fighting

Even with the company going through intense government scrutiny, He Xiangjian never gave up and the company is still a worldwide success to this day through his efforts.

Summary

He Xiangjian is one of the most famous entrepreneurs in the world. At the Midea Historical Museum, you can see how the company started from a small plant and grew into a world-class, leading brand in the household appliance industry.

There are currently multiple corruption cases against He Xiangjian started by the Chinese government. The reason behind his not being caught out for anything is that it is difficult to trace his current assets.

As of June 2023, He Xiangjian’s net worth is estimated to be $27 Billion.

What do you think about He Xiangjian’s net worth? Leave a comment below.

Entrepreneurs

Wack 100 Net Worth

Wack 100 is a controversial figure in the music industry who started Cash Money West Records and has made millions by managing some of the biggest names in hip hop.

Published

1 month ago

Apr 25, 2023

John Mulder

What is Wack 100’s net worth?

Table of Contents

Introduction

Wack 100 is an American music executive who manages many artists including Ray J and The Game.

He also launched Cash Money West by joining forces with the legendary producer Birdman and his label Cash Money Records.

As of June 2023, Wack 100’s net worth is estimated to be $5 million.

Wack 100 Facts

Wack 100’s real name is Cash Jones, and was born in Pacoima, California.
He spent the beginning of his adult life in prison, and joined the music industry upon his release.
Jones worked with Universal Music Group and became a liaison for rising artists in the hip hop community.
In his career, he has worked with music executive Suge Knight and rappers including Blueface.
Wack 100 now runs an independent label named 100 ENT that has featured Kanye West and several other notable rappers.

Early Life

Cash Jones was born April 7, 1978 in Pacoima, California and grew up in the Los Angeles area.

Jones ran with a rough crowd while growing up and became a member of the Pacoima Piru Bloods gang.

This led to him being arrested and sentenced to four years in prison when he was 18 years old, and he vowed to turn his life around upon being released.

Jones started to build his hip hop empire on the west coast by taking on local talent as his clients, and saw his career take off in the 2010s.

Career

Jones would go on to represent rappers including The Game and Blueface, establishing himself as a celebrity manager in the music industry.

He then became part of Universal Music Group, signing a large contract where he would manage rising artists on the label.

Wack 100 and the music personality named Birdman would join forces to launch a west coast branch of Cash Money Records and have signed many artists since.

Jones has made headlines for himself, too, including a controversial statement regarding rapper Nipsey Hussle that drew a lot of negative attention in the hip hop community.

Wack 100’s Career Earnings & Net Worth

As a celebrity manager and music executive, Wack 100 has done just fine for himself throughout his career.

In his early life, Jones didn’t have a net worth as he was trying to rebound from being imprisoned but has built a hip-hop empire ever since.

Thanks to his contract with Universal, being an executive with Cash Money West and managing the careers of several famous rappers, Wack 100 is now worth millions.

It’s estimated that Wack 100 has a net worth of $5 million while earning an estimated $750,000 per year from his various careers and business ventures.

Personal Life

When Wack 100 was just a teenager, he began a relationship with Kimberly Jones and the two have been married since his early 20s.

Along the way, the couple has had two children with a son named Devyn Jones and a daughter named Prince Jones.

During his career, Wack 100 has given many interviews regarding his life, including a glimpse into how producer Suge Knight laid out a plan to take out Snoop Dogg, but Jones has also had controversial opinions regarding hip hop.

Jones is active on social media with an official Instagram account that is updated regularly.

Awards & Achievements

As a manager, Wack 100 isn’t the one that’s typically winning all of the awards, but his clients are doing well in that department.

Wack 100 has been one of the more prominent executives in hip hop since the early 2010s, and has had many memorable moments along the way.

Here are some of the many achievements from Wack 100’s career:

Client The Game won back-to-back Ozone Awards, including Best West Coast Rap Album in 2007 and Best West Coast Rap Artist in 2008.
One of his more recent clients, Blueface, received a BET Awards nomination for Best New Artist.
Blueface also received an iHeartRadio Music Awards nomination for Thotiana in the Best Remix category with Cardi B and YG.
Ray-J, another Wack 100 client, reached the top of the US R&B charts with the release of All I Feel.
Several acts on the Cash Money label have been nominated for BET Awards.

Cash Jones, a.k.a. Wack 100 has said that he doesn’t want to be in the music business for long as he’s preparing his daughter to take his spot.

He continued by saying that he hopes to get into the diaper business, which would be an interesting career change.

How Does Wack 100 Spend His Money?

As he climbs the rank of the richest rappers in the world, Wack 100 has accumulated millions to spend and he has a luxurious taste.

Wack 100 has an extensive car collection of some of the most expensive cars in the world, including a black Rolls Royce Ghost and a Range Rover Sport.

Though he doesn’t have one of the most expensive houses in the world, Wack 100 does have a mansion in the Los Angeles area that’s estimated to be around $1 million.

Wack 100 doesn’t tend to spend too much on fashion, but does have some expensive jewelry and has worked toward getting his pilot’s license, signaling that he may one day buy a private jet.

Highlights

After getting his life sorted out in his early adulthood, there have been a lot of highlights in Wack 100’s life and career.

From signing some of the biggest names in the industry to starting a record label, Wack 100 has just about done it all thus far.

Here are some of the best highlights of Wack 100’s career:

Began his career as a music executive upon his release from prison.
Married Kimberly Jones and has had two children (Prince Jones and Devyn Jones).
Began the Cash Money West label with hip hop industry personality named Birdman.
Signed a large deal with Universal to work with young up-and-coming artists worth $20 million.
Has served as celebrity manager for rappers including The Game and Blueface.

There is plenty of time to create new memories for Wack 100 and his label, especially as his growing notoriety attracts more clients.

The American music executive has been incredibly busy and hopes to add some more of the biggest names to his client list.

Favorite Wack 100 Quotes

Wack 100 has been one of the most outspoken people in the industry, and the American music executive has had a lot of memorable interviews.

From his controversial statement about rapper Nipsey Hussle to his history with Snoop Dogg and Suge Knight, Wack 100 certainly isn’t boring.

Here are our favorite quotes from Wack 100:

” When bitten by a snake you must first extract the poison, then you get away from it.” – Wack 100
” I’m grooming my daughter, Devyn Jones, to step into my shoes.” – Wack 100
” I don’t care about how much money I got or my position in this game.” – Wack 100
” I done saved people’s lives…but the controversy is always going to be the better sell.” – Wack 100
” I’ve been me before I signed a lot of my artists.” – Wack 100

3 Amazing Lessons From Wack 100

The odds were stacked against Wack 100 when he was in his late teens as he was sentenced to several years in prison.

Thankfully, he was able to set himself on the right path and has become a prominent name in music while also raising two kids with wife Kimberly Jones.

Now that you know all about Wack 100’s net worth, there’s plenty to learn from the record executive.

Here are some of the best success lessons to learn from Wack 100:

1. Show Respect

One of the fastest ways to get yourself kicked out of the music business, especially in rap, is to disrespect your peers.

Wack hasn’t been afraid to call out anyone that’s disrespectful toward him throughout his career, while showing respect to those that give it.

He has been very adamant about respect during his career after running the streets as a teenager, talking about at length in interviews.

2. Diversify

Though he has plenty of time until he reaches retirement age, Wack has been thinking about ways to get out of the music business.

He has been looking to diversify, and he has plenty of other options that he’s entertaining, including podcasts, film production and selling diapers.

No matter what route Wack takes next, most know that he’ll be successful as he’s been able to get his name out there in the public eye.

3. Get People Talking

Sometimes, negative attention can be better than no attention at all, and Wack knows that as well as anybody.

From his public beef with rappers including Future and 21 Savage to his controversial opinions on Nipsy Hussle, Wack has found ways to get people talking about him.

The result has been a lot of press coverage that has only helped to boost his career, making him millions in the process.

Summary

Whether people agree with what Cash Jones says in interviews or not, he’s undoubtedly one of the biggest names in rap music behind the scenes.

He and wife Kimberly Jones are building a family business with his daughter set to take over his empire, though that doesn’t mean that Wack 100 is going to retire.

Wack 100 will still be prominently featured as a manager and entrepreneur, looking to add to his already impressive net worth.

As of June 2023, Wack 100’s net worth is estimated to be $5 million.

What do you think about Wack 100’s net worth? Leave a comment below.

Entrepreneurs

Mark Spain Net Worth

Entrepreneur Mark Spain is one of the most successful realtors in the world who has earned millions from his real estate business and investments.

Published

1 month ago

Apr 25, 2023

Shawna

What is Mark Spain’s net worth?

Table of Contents

Introduction

Mark Spain is an American entrepreneur and a second-generation realtor who has made a fortune selling homes around Georgia.

Currently, the chairman and CEO of Mark Spain Real Estate, his total net worth is only continuing to climb higher every year.

Since starting his own real estate company, his business has expanded to seven states, which caused his wealth and renown to skyrocket.

As of June 2023, Mark Spain’s net worth is estimated to be $110 million.

Mark Spain Facts

Mark Spain started his own real estate company in 2016 after 20 years in the industry.
In 2020, Mark Spain sold over $1.4 billion in residential property.
The same year, he opened nine total offices, branching out from Atlanta into Charlotte, Raleigh, and Nashville.
Spain currently boasts over 10k five-star reviews of his work.
In 2021, his company sold over $3.3 billion in residential real estate.
His real estate company was ranked No. 1 in the US for closed transactions by The Wall Street Journal in 2022.

Early Life

Mark Spain is a native of Atlanta, Georgia, though he has never made his birth date public, instead focusing on promoting his businesses.

As such, not much is known about his childhood, except that he is a second-generation realtor who grew up with a passion for the business.

After leaving high school, he attended the University of Georgia – Terry College of Business from 1989 to 1993, earning a Bachelor of Business Administration Management. He was also a member of the Sigma Iota Epsilon Honorary Society.

Once he had his degree, he jumped into the real estate industry and started working toward his success, starting out as a sales associate and working his way up to becoming the CEO of his own company.

Career

Mark Spain started out as a sales associate at Colony Homes, where he worked from 1995 to 1997 as a new home sales associate.

He then joined RE/MAX International, working as an associate broker from 1997 to 2011.

In 2011, he joined Keller Williams Realty and formed the Mark Spain Team, which would help over 3,500 families close on their homes.

However, in 2016, he started Mark Spain Real Estate as the Chairman and CEO. This business has allowed him to grow his fortune the most, and he has since opened 18 offices across seven states.

Mark Spain Real Estate has since been named the no. 1 real estate team in the US, as well as one of the fastest growing companies in the nation.

As of 2022, his team has handled over $10.58 billion in sales, and this number is only continuing to increase as the company expands.

Mark Spain’s Career Earnings

Despite not being as wealthy as Daymond John or Herb Kohl, Mark Spain has earned a massive net worth from his real estate business.

In an average year, it is estimated that he earns roughly $70.7k as a real estate agent.

Through his company, Mark Spain sold over $1.4 billion in residential properties in 2020, and he has expanded his business to cover seven states.

If any further information about his overall earnings becomes available, we will be sure to keep you updated. So, make sure to check back often.

Personal Life

Mark Spain is currently married and has four daughters and one son with his wife.

Although Mark is active on social media, he doesn’t share much about his personal life, instead focusing on teaching people about real estate and promoting his company.

That said, you can find him on his official Instagram account and his official Twitter account, where he keeps his followers updated on his business achievements, sponsorships, and milestones.

He is also active on his official Facebook account and his official YouTube channel, which he uses to post commercials, shorts, and tips about selling your home.

You can also check out his official website, where you can stay up-to-date on his latest sales numbers and learn helpful tips from his blog.

How Does Mark Spain Spend His Money?

Mark Spain currently lives in Atlanta, Georgia, though little is known about his home or how much it cost.

While we know that he has made a fortune selling some of the most expensive houses in the world, it seems that he likes to keep his personal investments out of the public eye.

That said, due to how much he has earned and his job in real estate, we can imagine that he is living a very luxurious life. Additionally, we wouldn’t be surprised to learn he frequents some of the most expensive hotels in the world, given he often travels for work.

As an investor, we would also assume that he has money in some of the most expensive stocks in the world to keep his fortune growing, though his exact investments have never been made public.

Highlights

Like Jim Walton and Rick Hendrick, Mark Spain has reached many milestones during his career that have helped him become incredibly successful.

We’ve chosen to highlight some of his most memorable moments, particularly the ones that have benefited his success and fortune the most.

Here are some of the best highlights of Mark Spain’s career:

Mark Spain Real Estate was ranked as the number one real estate agency in the US in terms of closed transactions by The Wall Street Journal four years consecutively.
His agency has also received the “Top Workplace” award from the Atlanta Journal-Constitution four times in a row.
The Atlanta Business Chronicle has ranked Mark Spain Real Estate as one of the “Best Places to Work” three times.
Spain is a five-time winner of the Pacesetter Award from the Atlanta Business Chronicle.
His company was nominated for the Inc. 5000 list of the fastest-growing companies for six consecutive years.

These are only a few of his achievements, but they are the ones that showcase his keen business sense the most.

While he may not be as well-known as Michael Bloomberg, Spain has certainly created an incredibly successful company that has earned him millions.

3 Amazing Lessons From Mark Spain

There is a lot that we can learn from Mark Spain and his long career as a successful businessman and entrepreneur.

Now that you know all about Mark Spain’s net worth, we can take a closer look at what he can teach us about reaching our own goals.

Here are some of the best success lessons to learn from Mark Spain:

1. Keep Looking Forward

Although there can be many things holding you back from achieving success, focusing too much on the past instead of the future can be one of the biggest ones.

There is no point in wasting energy on things that you cannot change, so if you want to get ahead, make sure that you’re able to stay focused on what’s in front of you, so you can plan accordingly.

2. Learn From Mistakes

Everyone makes mistakes, and it’s essential that you’re able to learn from them and let them go instead of dwelling on them and having them slow you down.

All mistakes come with valuable lessons, and when you teach yourself to learn from your failures, you can make plans to do better in the future.

3. Make Smart Investments

Smart investments can be one of the best ways to keep your money moving in a positive way, even when progress is slow.

Even if you don’t have a million dollars to put into stocks, you can still use some of the best investment apps to grow your wealth gradually over time as you build up your overall success.

Summary

Mark Spain has built a remarkably successful business for himself and earned himself a substantial fortune while doing it.

Thanks to his keen investments and business strategy, he has become one of the top realtors in the nation, with a net worth that is steadily increasing.

Make sure to check back often so you won’t miss any important updates impacting Spain’s business and growing fortune.

As of June 2023, Mark Spain’s net worth is estimated to be $110 million.

What do you think about Mark Spain’s net worth? Leave a comment below.

Entrepreneurs

Changpeng Zhao Net Worth

Find out how Changpeng Zhao’s net worth has changed in recent years, from early successes to the major fluctuations over time.

Published

2 months ago

Apr 10, 2023

Andy Dilks

What is Changpeng Zhao’s net worth?

Net Worth: $12 Billion

Age: 45

Born: September 10, 1977

Gender: Male

Height: 1.70 m (5 ft 7 in)

Country of Origin: China

Source of Wealth: Entrepreneur

Last Updated: March 8, 2023

Net Worth:	$12 Billion
Age:	45
Born:	September 10, 1977
Gender:	Male
Height:	1.70 m (5 ft 7 in)
Country of Origin:	China
Source of Wealth:	Entrepreneur
Last Updated:	March 8, 2023

Table of Contents

Introduction

Changpeng Zhao is a Chinese-Canadian entrepreneur and business executive known for founding Binance, the world’s largest crypto exchange.

Often referred to as “CZ”, Zhao has helped to revolutionize digital currencies, while representing a true “rags to riches” life experience.

As of June 2023, Changpeng Zhao’s net worth is estimated to be $12 Billion.

Changpeng Zhao Facts

Changpeng’s transition from entrepreneur to billionaire occurred quickly, with Binance becoming the biggest crypto exchange market in the world in under six months.
Before Binance, Zhao had set up another trading system called Fusion Systems, which he founded in 2005.
Zhao is his biggest brand ambassador and is often seen wearing Binance-branded hoodies and T-shirts.
While Zhao isn’t big on supercars, he once held a promotional campaign for the company with a Lamborghini as the prize.
In 2019, Binance experienced a serious cyberattack, which resulted in the loss of $40 million in Bitcoin.

Early Life

Changpeng Zhao was born in China’s Jiangsu province on September 10, 1977, relocating to Vancouver in Canada with his parents when he was 12 years old.

To help support his family, Zhao held a variety of odd jobs during his teenage years, working at McDonald’s while studying at McGill University in Montreal.

Career

After completing his computer science studies, he became a subcontractor at the Tokyo Stock Exchange, developing software for matching trade orders.

By 2013, Changpeng Zhao was becoming involved in cryptocurrency, working on Blockchain.info while also serving as Chief Technology Officer for OKCoin.

Zhao then established the company Binance, setting it up as a platform for spot trading between digital and assets and fiat currencies.

Beginning with a $15 million investment, the company skyrocketed in a short period, with the company moving its headquarters from China to Japan in 2017 following the Chinese government’s plan to ban cryptocurrency trading.

In 2018, Binance’s trading volume had become the largest in the world, placing Zhao on the Forbes list of The Richest People In Cryptocurrency for the first time.

By late 2021, he had a net worth rivaling some of the richest people in the world, with the media frequently comparing his rise in fortune to Mark Zuckerberg, founder of Facebook.

While this fortune quickly dropped off by mid-2022, he remains a billionaire several times over, investing $500 million in the attempt from Elon Musk to purchase Twitter.

More Professional Entrepreneurs:

Changpeng Zhao’s Career Earnings

While little is known about how much Changpeng Zhao has received as a regular income, as one of the richest people in Asia it’s assumed to be a considerable sum of money.

Some estimates have placed the figure at several million dollars per year when compared to the salaries of other billionaires such as Zuckerberg, who takes home an estimated annual salary of $20 million.

Zhao’s career earnings will include salaries from his various business ventures and other entrepreneurial activities.

Changpeng Zhao’s Net Worth Annually

Changpeng’s net worth has fluctuated wildly over the last few years, reaching its highest point of around $96 billion in late 2021 before plummeting to under $15 billion several months later.

Here’s a breakdown of Changpeng Zhao’s annual net worth:

Changpeng Zhao’s Net Worth In 2018 – $1.5 billion
Changpeng Zhao’s Net Worth In 2019 – $1.2 billion
Changpeng Zhao’s Net Worth In 2020 – $1.9 billion
Changpeng Zhao’s Net Worth In 2021 – $96 billion
Changpeng Zhao’s Net Worth In 2022 – $14.9 billion

Personal Life

Little is known about Changpeng Zhao’s personal life, with the billionaire maintaining his official Instagram account but largely avoiding public scrutiny and media interviews.

Zhao faced controversy when he referred to people as “poor” in a tweet, which he has since deleted, facing public scrutiny for the comment.

In 2021, he stated that he plans to give away 99% of his wealth to charities, following in the footsteps of other notable entrepreneurs who have done the same.

How Does Changpeng Zhao Spend His Money?

While little is known about how Changpeng Zhao spends his money, he recently purchased an apartment in Dubai, home to some of the most expensive penthouses in the world, although details of his apartment aren’t known.

The investment was primarily to show his support for Dubai, where cryptocurrencies are valued while establishing a presence in the Middle East.

Zhao has previously stated that he avoids spending money on luxury goods such as the most expensive cars in the world as he views these as illiquid assets, preferring to avoid such indulgences.

Highlights

Over a relatively short period, Changpend Zhao has gone from an aspiring entrepreneur to one of the most successful figures in the world of cryptocurrency trading.

Here are some of the best highlights of Changpeng Zhao’s career:

2005: Changpeng Zhao relocates to Shanghai and begins his journey with high-frequency trading systems at Fusion Systems.
2013: He becomes involved with cryptocurrencies for the first time, developing the skills and experience that would lead to the creation of Binance.
2017: Binance is founded, with Zhao setting up Binance Smart Chain shortly after.
2018: Zhao signed a Memorandum of Understanding with the Government of Bermuda while raising an additional $12 million by collaborating with the other main exchanges.
2021: Zhao’s estimated net worth reaches its highest point yet, hitting a peak of just under $100 billion

Favorite Changpeng Zhao Quotes

While Changpeng Zhao isn’t known for conducting interviews regularly, he has occasionally shared his insights into his life and fortune with the media.

Here are our favorite quotes from Changpeng Zhao:

“People are investing in crypto because it seems new and cool. It’s like the internet was 20 years ago: It was slow, e-commerce didn’t work, there was no social media.” – Changpeng Zhao
“I went from being an entrepreneur to somebody telling me I have tens of billions.” – Changpeng Zhao
“If you pick one business, and integrate [it] with crypto, I fully believe cryptocurrencies will give a much stronger financial funding power.” – Changpeng Zhao
“When I suggest that investors seem crazy to spend millions on digital artwork, he says, “I agree with you. I think people may have lost their mind.” – Changpeng Zhao
“This is the first time in human history that we can collectively agree and maintain a record, and no one person is in charge. That has profound implications.” – Changpeng Zhao

3 Amazing Lessons From Changpeng Zhao

Now that you know all about Changpeng Zhao’s net worth, what lessons can we learn from his entrepreneurial activities and huge success with cryptocurrencies?

Here are some of the best success lessons to learn from Changpeng Zhao:

1. A Change Of Scenery Is Often A Good Way To Find New Inspiration

Changpeng Zhao’s career has seen him moving around the world on more than one occasion, from Shanghai to Japan, as well as establishing a presence in Dubai.

If you want to get the best business opportunities, head to the places where entrepreneurs are welcomed with open arms.

2. In A Bear Market, Only The Strong Survive

When cryptocurrencies first entered the market, there was a mad rush for investors to get in on the action.

As we’re seeing now, many currencies have fallen by the wayside, with only the strongest remaining.

3. Cryptocurrencies Are Here To Stay.

Despite Zhao’s ups and downs, Binance is still going strong, with cryptocurrencies here to stay for the foreseeable future.

Summary

That wraps up this guide to Changpeng Zhao’s net worth, exploring his rapid rise to one of the richest people in the world with the huge success of Binance.

The cryptocurrency landscape continues to unfold, with Zhao’s position at the forefront all but guaranteed.

With Zhao’s net worth fluctuating over time it’s likely to change, so be sure to refer back to this article as we’ll update it with the most accurate figure.

As of June 2023, Changpeng Zhao’s net worth is estimated to be $12 Billion.