A recent analysis indicates that Changpeng Zhao, Binance’s former chief, experienced a near $25 billion surge in his estimated wealth in 2023, while Coinbase’s Brian Armstrong enjoyed a $5.8 billion increase. Yet, topping the list was the elusive Satoshi Nakamoto, whose purported net worth rose by $26 billion this year.
CZ and Nakamoto’s Combined Wealth Increased by $50 Billion This Year
The flourishing crypto market has significantly enhanced the fortunes of numerous executives in the sector, including Binance’s Changpeng Zhao, also known as CZ. On Tuesday, Bloomberg reported that CZ’s fortune swelled by approximately $25 billion throughout the year, a sum that eclipses the penalties his company incurred from various U.S. federal bodies, such as the Department of Justice (DOJ). It’s estimated that CZ’s holdings exceed $37 billion, with the bulk of his wealth linked to his stake in Binance.
Barry Silbert, the boss of Digital Currency Group, witnessed a $1.5 billion uptick in his net worth, while Gemini’s Winklevoss twins saw their fortunes rise by $1.4 billion. Concurrently, Coinbase’s Brian Armstrong‘s assets expanded by $5.8 billion, and co-founder Fred Ehrsam saw a $1.8 billion elevation in his estimated riches in 2023. However, the most significant beneficiary this year has been the enigmatic founder of Bitcoin, Satoshi Nakamoto.
It’s estimated that Nakamoto holds 1 million bitcoins, initially mined during the currency’s inception between 2009-2010. In 2023, Nakamoto’s fortune experienced an increase of approximately $1 billion more than that of CZ, soaring from $16.53 billion in December 2022 to a staggering $42.59 billion. This equates to a $26.05 billion growth in wealth over the past year. Nakamoto’s net worth now sits squarely between Nike co-founder Phil Knight and MacKenzie Scott, the former spouse of Amazon’s Jeff Bezos, according to the Forbes real-time billionaires list.
Remarkably, since accumulating this wealth, not a single penny or satoshi has been moved from Nakamoto’s collection of BTC wallets, underscoring the enduring intrigue surrounding Bitcoin’s creator, whose identity remains the financial world’s most captivating enigma.
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