Binance co-founder Changpeng “CZ” Zhao’s estimated BNB holdings have surged to over $75.8 billion after the token reached a new all-time high of $850.70 on Monday, according to blockchain analytics firm Nansen.
Analysts say the price increase is likely driven by factors such as regular BNB token burns, improved on-chain activity, and large whale transactions.
A June 2024 Forbes report revealed that CZ owns about 64% of BNB’s circulating supply, roughly 89.1 million tokens, while Binance itself holds another 7%. Back in February, CZ stated on Binance Square that 98% of his personal portfolio was in BNB, with just 1.32% in Bitcoin.
Forbes currently ranks CZ as the 23rd richest person in the world, estimating his total net worth at $71 billion. However, the $75.8 billion value of his BNB alone would place him ahead of American billionaire Julia Koch and her family, who own 42% of Koch Industries, the second-largest private company in the U.S.
The BNB Smart Chain’s Maxwell upgrade, which launched on June 30, has fueled speculation of a potential price rally. According to the BNB Chain team, the upgrade is designed to deliver faster block times, improved validator coordination, and more efficient network performance.
BNB’s total supply was originally capped at 200 million coins. However, that number is steadily declining due to Binance’s ongoing token burn program, which aims to reduce the circulating supply over time.