Changpeng Zhao facts for kids
Quick facts for kids
Changpeng Zhao
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Zhao speaking at the 2022 NFT Summit
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| Born | February 5, 1977 Lianyungang, Jiangsu, China
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| Nationality | Canadian, UAE |
| Other names | CZ |
| Alma mater | McGill University (BSc.) |
| Occupation |
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| Known for | Co-founder and former CEO of Binance |
| Spouse(s) |
Yang Weiqing
(m. 2003) |
| Children | 5 |
| Changpeng Zhao | |||||||
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| Traditional Chinese | 趙長鵬 | ||||||
| Simplified Chinese | 赵长鹏 | ||||||
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Changpeng Zhao (Chinese: 赵长鹏; pinyin: Zhào Chángpéng), often called CZ, is a Canadian businessman born in China. He is famous as the co-founder of Binance. Binance is the world's biggest cryptocurrency exchange, which is like a marketplace for digital money. CZ stepped down from his role as CEO in November 2023.
According to Forbes, Zhao is one of the richest people in the world. His wealth was estimated at $66.6 billion in early 2025.
Contents
Early Life and Learning
Zhao was born in Lianyungang, a city in China. When he was 12, in the late 1980s, his family moved to Canada. They settled in Vancouver, British Columbia. His parents were both teachers in China. His father, a university instructor, faced difficulties because of his ideas.
As a teenager in Canada, Zhao helped his family. He worked at places like a McDonald's restaurant and a gas station. Later, he went to McGill University in Montreal, Quebec. There, he studied computer science.
Starting His Career
After finishing university, Zhao got an internship in Tokyo. He worked for a company that helped the Tokyo Stock Exchange. He developed software to match trade orders. Later, he worked for four years at Bloomberg Tradebook. He helped create software for trading futures.
Business Adventures
In 2005, Zhao moved to Shanghai to start his own businesses. He created his first tech company called Fusion Systems. This company was known for making very fast trading systems for stockbrokers.
Zhao first learned about Bitcoin in 2013. He was playing poker with Bobby Lee, who suggested he invest in Bitcoin. Zhao decided to put all his money into it. He sold his apartment in Shanghai to invest everything in Bitcoin.
In 2013, Zhao was part of the team that built Blockchain.info. He also worked as the Chief Technology Officer for another company called OKCoin.
In 2022, Zhao invested $500 million through Binance. This money helped finance Elon Musk's purchase of Twitter.
Binance: A Big Crypto Exchange
Binance launched in July 2017. It quickly raised $15 million from investors. Just eleven days later, trading began on the exchange. In less than eight months, Zhao grew Binance into the world's largest cryptocurrency exchange. This was measured by how much digital money was traded there.
Zhao also created Binance Coin in 2017. This is a special digital token. It gives its owners benefits, like discounts on trading fees. In April 2019, Binance launched Binance Smart Chain. This platform allows for smart contracts and competes with Ethereum.
In February 2018, Forbes listed him as one of the richest people in cryptocurrency.
In 2019, Zhao launched Binance.US, a version of Binance for the United States.
Personal Life
Zhao is a citizen of both Canada and the UAE. He was born in China in 1977. He moved to Canada in 1989. He became a Canadian citizen around 1992. In 2005, he moved back to China and owned an apartment in Shanghai. He sold this apartment in 2015 to buy Bitcoin. Zhao stayed in China until the government stopped crypto exchanges in late 2017. He now lives in Dubai, United Arab Emirates.
Zhao married Yang Weiqing in 2003. They have two children together. He also has three children with his business partner, He Yi.
Giving Back
Zhao has stated that he plans to donate most of his wealth. He wants to give away up to 99% of his money. He follows the example of other successful business people like Bill Gates and Warren Buffett. He believes in giving back to society.
