---
title: Why is crypto’s richest person investing $200m into Forbes?  - The Hustle
description: Crypto’s richest person — Changpeng Zhao ($96B) — will partly own one of America’s top business publishers.
image: https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/99153261-News-Brief_2022-02-11T014200.113Z.webp
---

# Why is crypto’s richest person investing $200m into Forbes?

![Trung T. Phan](https://thehustle.co/wp-content/uploads/2020/04/Image-from-iOS-300x300.jpg?width=48&height=48&name=Image-from-iOS-300x300.jpg) [Trung T. Phan](https://hs-sbup.thehustle.co/author/trung-t-phan) [Trung T. Phan Twitter profile ](https://twitter.com/TrungTPhan)

Published:  February 11, 2022

Updated:  October 11, 2023

Forbes is a 104-year-old magazine and publishing brand.

![Why is crypto’s richest person investing $200m into Forbes?](https://hs-sbup.thehustle.co/hs-fs/hubfs/The%20Hustle%20News/Assets/Images/99153261-News-Brief_2022-02-11T014200.113Z.webp?width=595&height=400&name=99153261-News-Brief_2022-02-11T014200.113Z.webp)

It’s widely known for its Billionaires list (and also a source of endless jokes for its 30 under 30 list).

Well, one of those billionaires just invested $200m into the brand.

#### **Meet Changpeng Zhao (AKA CZ)**

He is the founder and CEO of crypto exchange Binance and — with a net worth of at least $96B — is the richest person in cryptoland, per [*CNBC*](https://www.cnbc.com/2022/02/10/forbes-spac-binance-led-by-the-worlds-richest-crypto-billionaire-is-taking-a-200-million-stake-in-forbes-.html).

Binance will put up the $200m as part of a financing deal to take Forbes public via a special purpose acquisition company (SPAC).

In addition to the aforementioned lists, Forbes says its audience is 150m, including a model that it pioneered: a “contributor network” of writers under its brand.

#### **The Forbes SPAC…**

… put the company’s value at [$620m](https://www.axios.com/gsv-forbes-buyout-spac-04c0d5c5-3efe-44ed-9e83-c0e20ca66b24.html) as recently as December. But markets have since cooled down. With CZ’s wealth, the Forbes brand — which also does ecommerce and licensing deals — may not have to be a big moneymaker.

The move is comparable to other big-dollar deals by crypto exchanges to raise mass awareness:

- **March 2021:** FTX paid [$135m](https://dailyhodl.com/2022/02/07/coinbase-ftx-and-crypto-com-all-dishing-out-millions-for-super-bowl-ads-report/) to name the arena where the Miami Heat play
- **November 2021:** Crypto.com paid [$700m](https://deadline.com/2021/11/staples-center-being-renamed-crypto-com-arena-in-reported-700m-deal-between-aeg-and-hong-kong-based-cryptocurrency-platform-1234875851/) to name the arena where the LA Lakers play

It’s not just the NBA having fun: These crypto exchanges (including Coinbase) will spend millions on Super Bowl ads this Sunday.

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