Forbes claims that former Binance CEO Changpeng Zhao is the 24th richest person in the world due to his ownership of the BNB token.
Zhao reportedly owns 64% of the circulating supply of Binance's BNB token. At current prices, the 94 million coins that Zhao is said to control are worth more than $56 billion.
The report also indicates that he holds an approximate 90% stake in the Binance exchange.
While the cryptocurrency exchange was the subject of alarming news headlines, resulting in Zhao stepping down from a leadership role and serving a prison sentence. However, at the same time, the price of BNB has increased this year.
Queen Gekko Data showed a 141% price increase over the past 14 months. The cryptocurrency broke its all-time high (ATH) level earlier this month, peaking at $717.
BNB has returned 1,497,749% since its launch as an ICO in 2017, serving as the backbone of Binance's debut in the same year.
By comparison, the S&P 500 has gained 3,540% over its entire existence as an investment index. Reports from crypto.news also suggest that BNB may soon retest the ATH and continue its bullish momentum towards higher prices.
Chow's fortune could swell further as he serves a four-month prison sentence in a California prison.