has been sentenced to four months in prison. According to a report by Bloomberg, he has been sentenced for failing to prevent cybercriminals and terrorist groups from trading freely on Binance. Last year, Zhao even pleaded guilty to violations of US anti-money laundering and sanctions laws.
With this sentence, Zhao becomes the richest person to be imprisoned (in the US and perhaps even the world), and the second major crypto boss to be sentenced to prison after
FTX
’s
Sam Bankman-Fried
. The report suggests that, unlike Bankman-Fried, Zhao’s assets worth $43 billion will remain untouched even with the sentence. Moreover, the ongoing crypto bull run is expected to increase his net worth even more while he is jailed. In 2023, Zhao stepped down as the CEO of Binance but still retains an estimated 90% stake in the world’s largest crypto exchange. Considering that the board of directors mostly comprises his close friends, Zhao’s influence on the company is still intact, the report noted.
How Zhao’s sentence is different from Sam Bankman-Fried The sentence imposed by
US District Judge Richard Jones
in Seattle is relatively shorter than the three years requested by the prosecutors. His sentence was also much below the maximum 1-1/2 years recommended under federal guidelines.
To compare, Zhao’s sentence was also much lighter than the 25 years of captivity that was imposed on Sam Bankman-Fried in March. Bankman-Fried was accused of stealing $8 billion from customers of the FTX crypto exchange which is now bankrupt. However, Bankman-Fried has appealed his conviction and sentence.
Moreover, prosecutors also seemed happy with the sentence which was the outcome of a long investigation spanning years into Binance and Zhao. The billionaire also lived in the United Arab Emirates which is beyond US reach. “This was an epic day. Incarceration was critical in this case and we’re pleased with the result,” said US Attorney
This techie is the world's richest prisoner, with a net worth of $43 billion. Binance founder Changpeng Zhao
Changpeng Zhao
Changpeng Zhao (Chinese: 赵长鹏; pinyin: Zhào Chángpéng), commonly known as CZ, is a Chinese-born Canadian businessman. Zhao is the co-founder and former CEO of Binance, the world's largest cryptocurrency exchange by trading volume as of July 2024.
Elon Musk is now the richest person and man in the world. He is the CEO of several prominent companies, including electric car manufacturer Tesla and space exploration company SpaceX. He currently possesses a 12.86 percent stake in Tesla.
How much is Mansa Musa worth today? With camel-loads of gold and salt, Mansa Musa's net worth has been valued by modern-day scholars to be around $400 to $415 billion in modern money.
However, many believe Mansa Musa's wealth outdoes that of all modern billionaires. Mansa Musa ruled over the Mali empire in the 14th Century, and his incredible access to gold made him arguably the richest human to have ever lived.
Elon Musk, CEO of Tesla, is the richest person and the richest man in the world with a net worth of $239 billion. After Musk is Jeff Bezos, founder of Amazon. Other billionaires with some of the largest net worths include LVMH's Arnault, Microsoft's Bill Gates, and Oracle's Larry Ellison.
As of July 2024, Elon Musk had a net worth valued at 242.6 billion U.S. dollars, making him the richest man in the world. Amazon-founder Jeff Bezos followed in third, with owner of the luxury goods producer LVMH, Bernard Arnault and his family, in third.
Research predicts that Elon Musk will become the first trillionaire in history by 2027. There are also recognized other potential trillionaires. The report discusses social issues and the controversy surrounding Musk while highlighting the public's preoccupation with accumulating money.
The world's youngest billionaire is 19-year-old Livia Voigt, who is still in university. The Brazilian teenager is worth around US$1.1 billion as a result of her minority stake in the electrical equipment company WEG, co-founded by her late grandfather.
(KNWA/KFTA) — It's no secret that the family behind Walmart is America's richest family, but how rich are they? The Waltons owe their wealth to two brothers, Sam and Bud, who co-founded Walmart in the 1960s. What began as one store in Rogers, Arkansas, quickly grew to hundreds and thousands decades later.
He became emperor in 1312. He was the first African ruler to be famous in all of Europe and the Middle East. Historians say he was the richest person to have ever lived. Today, his wealth would be worth more than 400 billion USD.
Wealth. Mansa Musa is renowned for his wealth and generosity. Online articles in the 21st century have claimed that Mansa Musa was the richest person of all time.
In 2004, Musk was an early investor who provided most of the initial financing in the electric-vehicle manufacturer Tesla Motors, Inc. (later Tesla, Inc.), assuming the position of the company's chairman. He later became the product architect and, in 2008, the CEO.
Bezos' wealth increased by $167 billion in the past 10 years, or $16.7 billion per year, roughly $45.8 million per day, and roughly $1.9 million per hour. Of course, since Bezos' investments make money while he sleeps, we didn't use an 8-hour workday or 40-hour workweek for these calculations.
Introduction: My name is Lakeisha Bayer VM, I am a brainy, kind, enchanting, healthy, lovely, clean, witty person who loves writing and wants to share my knowledge and understanding with you.
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