Forbes: Zhao Changpeng owns over 60% of BNB, his net worth continues to rise while in prison

According to a report by Forbes, Binance founder Zhao Changpeng (CZ) owns 64% of BNB coins, which gives him a net worth of $61 billion, making him the 24th richest person in the world despite being in prison.

Analysis of BNB Holders

The chart below shows Forbes' estimated distribution of BNB holders. Currently, the total supply of BNB is 147.5 million tokens. Including all of the Binance team, Binance holds about 71% of the supply, with CZ owning 90% equity in Binance, which translates to approximately 64% of BNB, or 94 million BNB tokens. With the rise in BNB's value, CZ's net worth has reached $61 billion, placing him at 24th on the global rich list.

Where Does CZ's BNB Come From?

Research conducted by Forbes and Gray Wolf Analytics indicates that CZ's BNB mainly comes from two sources. Firstly, when Binance was launched in 2017, CZ and the founding team received 80 million of the 200 million BNB tokens, and to this day, Binance still holds 46.2 million of the initial 80 million tokens.

During the 2017 ICO, Binance claimed to have sold 100 million BNB at a price of $0.15 per token, raising less than $5 million. However, Forbes reports that only 10.8 million BNB were actually sold, and the unsold tokens were redirected to wallets controlled by CZ and Binance. These wallets now hold 58 million BNB, worth $35 billion.

Binance has not disclosed how any unsold tokens will be handled, but evidence suggests they have been placed into wallets owned by Binance.

BNB Hits All-Time High This Month, CZ's Net Worth Continues to Rise

As previously reported, Binance founder Changpeng Zhao (CZ) reported to a low-security federal prison in Lompoc, California at the end of May to begin his four-month sentence.

Meanwhile, BNB reached a historic high this month at $721.8, causing CZ's net worth to soar even while he is in prison.