Changpeng Zhao($90 billion) (1/6)

Changpeng Zhou is the CEO of Binance and famously credited with the meme-worthy phrase “Funds are safu” thanks to a video posted by Bizonacci

His father was labeled a “pro-bourgeois intellectual” during the Chinese cultural revolution and was exiled to the countryside.

Some have speculated that the experiences of his childhood led to a mistrusting of government and an interest into cryptocurrency.

He was first introduced to Cryptocurrency during a poker game in 2013. They said “CZ, you should convert 10% of your net worth into Bitcoin, because there’s a very small chance it will go to zero and you will lose that 10%. There’s a high chance it will 10x, and then you would double your net worth”

The thing I find most fascinating about this quote is that it perfectly exemplifies the importance of pot odds that professional Poker players regularly have to consider: The risk-reward ratio of any hand in Poker relative to the pot size.

Changpeng Zhou had a lot of experience with remittance systems due to receiving money fron his dad in Canada(it took him 5 years to actually get the visa to finally see his father).

In just 8 months, Changpeng Zhou turned Binance from an exchange nobody ever heard of into becoming the largest in the entire world, becoming a billionaire in the process.

One of the most unbelievable things about the life of Changpeng Zhou is how modest he has been with his money. In interviews, he has stated that the only luxury item he buys are new laptops. He doesn’t own a car or a house because as soon as you buy them you can’t trade out of them easily and prefers to stay in hotels due to the ‘higher liquidity’. He said he values liquidity more than owning something.

Written by Writers Room


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