Changpeng “CZ” Zhao, founder of the world’s largest cryptocurrency exchange Binance (CRYPTO: BNB), once said that people shouldn’t spend their whole lives obsessing over making more and more money.
CZ on Money and Happiness
In a May 9 interview on Crypto Banter with Ran Neuner, CZ advised against making the pursuit of money a central life goal, because it can lead to money controlling every aspect of a person’s existence.
“Once you have enough money, then you shouldn’t rely on having more money to make you happy,” the cryptocurrency billionaire stated.
But how much money is truly “enough,” you might wonder.
The Net Worth Needed for Financial Independence
CZ stated that $10 million is sufficient to attain “financial freedom” for someone seeking a “normal” lifestyle.
He added that $20 million might make a “little difference,” but the difference diminishes “very quickly” beyond $50 million.
“If you’re stuck on money to make you happy, you’re going to be unhappy,” CZ said, underscoring that relationships, family, and health are equally vital measures of well-being.
CZ has previously stated that he is not particularly extravagant and does not have any “crazy obsessions.”
Richest Crypto Personality
CZ founded Binance in 2017, which has since grown to become the world’s largest cryptocurrency exchange. He is the richest cryptocurrency mogul, according to Forbes, with an estimated wealth of over $110 billion.
BNB, the coin underpinning the Binance ecosystem, is valued at over $78 billion, making it the fourth-largest cryptocurrency by market capitalization.
CZ was awarded a four-month prison sentence for anti-money laundering violations in 2024. He paid a $50 million fine and resigned as Binance’s CEO. He was subsequently pardoned by President Donald Trump last year.
Image via Shutterstock/ Volodymyr TVERDOKHLIB
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