Richest Immigrant In Canada – All You Need To Know About Him

richest immigrant

Richest immigrant in Canada. Each year hundreds of thousands of people move to Canada for a better lifestyle. Immigrants work hard to make money so that they and their families can enjoy their lives. Canada is one of the foremost countries in the world where millionaires are immigrants.

The richest immigrant in Canada is a Chinese- Canadian business executive. His name is Changpeng Zhao, commonly called “CZ”. CZ is the founder of Binance – one of the world’s largest cryptocurrency exchanges by trading volume. 

All About Him

CZ was born in Jiangsu, China on September 10, 1977. He moved to Canada (Vancouver, BC) with his family in the 1980s. He was twelve years old when he moved to Canada. Both his parents were teachers in China. 

CZ went to McGill University in Montreal, Quebec. He majored in computer science. Also, during his teenage years, CZ did a variety of service jobs, including working at McDonald’s. 

His Career

Once he graduated from university, he received an internship in Tokyo. He worked for a subcontractor of the Tokyo Stock Exchange, where he developed software for matching trade orders. After this, he worked at Bloomberg Trade work full-time for four years. Here he developed futures trading software. 

Later, in 2005 he founded his own company- Fusion Systems in Shanghai. This company was a trading system for brokers. Also, this was known for “some of the fastest high-frequency trading systems for brokers”. 

In 2013, CZ worked for some cryptocurrency projects like Also, he worked as the Chief Technology Officer in OKCoin. After a year, he sold his apartment in Shangai for about $1 million. He used this money on Bitcoin.

A couple of years later, he created an exchange development company called BijieTech. This company provided cloud-based trading technology to a number of Asian exchanges.

How It Finally Started

In July 2017, CZ established Binance. For this, he left BijieTech and recruited senior developers and engineers from it for senior ranks. Also, while he worked at OKCoin, he gained a lot of experience in senior technical roles. 

Once the cryptocurrency exchange was launched, his company Binance was able to raise $15 million in an initial coin offering and the exchange started trading eleven days later. In the next eight months, Binance become the world’s largest cryptocurrency exchange by trading volume.

Also, CZ launched a blockchain network Binance Smart Chain. As a result, he greatly contributed to the development of decentralized finance. Forbes Magazine ranked him third in their list of “The Richest People In Cryptocurrency” in Feb 2018. The estimated worth during the time was around $1.1-2 billion.

As per Forbes, he has a net worth of $65 billion USD (2022). In 2022, CZ put in $500 million through Binance to finance Elon Musk’s Acquisition of Twitter. 

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About Shanvi Kaur 109 Articles
Shanvi Kaur is a content writer at Immigration News Canada. She moved to Canada as an immigrant and now focuses on bringing the latest news to immigrants to make their journey easier in Canada!

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