Binance CEO is the world’s biggest loss billionaire in 2022

Binance CEO is the world’s biggest loss billionaire in 2022

The CEO of Binance, known only as “CZ”, is the billionaire who records the world’s largest loss in 2022. With the cryptocurrency crash yes, many ex-riches have left their millions and bitter losses in their positions.

Elon Musk being the richest man in the world, is another who is experiencing a brutal drop in his wealth, even with his companies having support in the United States.

This shows that both the cryptocurrency market and the traditional financial market of publicly traded companies are not having a good time in 2022, after central banks reduced money printing.

Binance CEO is the world’s most lost billionaire in 2022, that’s all

The first half of 2022 has certainly shown equity and cryptocurrency risk investors that the timing is far from ideal, and it is crucial to analyze the scenario calmly and carefully, as the signs are alarming.

With high inflation around the world , we have witnessed the possible establishment of one of the worst recessions in the world, with the poorest population already suffering from it in daily life. Just go to the supermarket and you will learn the concept of inflation in practice.

But if the situation of the poorest is difficult, even the great billionaires go through a period of financial difficulties. Using data from Bloomberg, FinDocs, a Brazilian financial education company, analyzed the extent of the capital depreciation of the wealthiest since January.

In the survey, the biggest standout went to Binance CEO “CZ,” who, after losing $80 billion since January, is now the world’s most underdog billionaire. This drop in Chinese stocks is mainly due to the drop in cryptocurrencies, such as Bitcoin today costing less than $20,000 .

Second, Meta (formerly Facebook) Founder and CEO Marco Zuckerberg loses $66 billion, showing that his companies are also under pressure.

To close the “podium” of multi-million dollar losses is none other than Elon Musk, CEO of Tesla, SpaceX and other companies, passionate about Bitcoin and dogecoin, which records a loss of 60 billion dollars in the first six months of the year.

Executives at Amazon and Google are also suffering

The Brazilian firm’s survey also shows executives such as Jeff Bezos, currently the third-richest man on the list, with an estimated loss of $59.3 billion.

The current president of LVMH, Bernard Arnault, is the second richest man in the world, but he has not escaped losing 50,000 million dollars in recent months.

Completing the ranking is Jeff Bezos’ ex-wife, MacKenzie Scott (who lost $29 billion) and Google executives Larry Page and Sergey Brin, with losses of $29.3 billion and $28.4 billion, respectively.

The situation shows that the biggest businessman in the cryptocurrency industry today, who was once considered the richest Chinese in the world, is under pressure. However, in a recent speech, CZ said that he doesn’t have as much money as everyone thinks .

Samuel Edwards
Samuel Edwards is the name you must have heard many times while reading reports related to Finance, that's what he is good at. From Major Investments to Stock Market Updates, he got 'em all. Be ready to blow your mind by the mind-blowing reports of Finance World from Samuel Edwards.