finance
Binance Founder Says $10 Million Provides Financial Freedom for Most People
Binance founder Changpeng Zhao stated that $10 million is enough for financial freedom for most people living a normal life. He added that $100 million is sufficient for almost everyone on earth and that additional money beyond that level does not increase happiness.
May 16, 10:01 AM·1m read1 source
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Binance founder Changpeng Zhao said most people can achieve financial freedom with $10 million. He stated that money above $100 million no longer affects happiness for almost everyone on earth. "For almost everyone on earth, $100 million is enough," Zhao said in a Crypto Banter podcast episode released on May 9.
"You can go way below that. He noted that researchers have studied how much money is needed for financial freedom or happiness. One frequently referenced approach recommends holding 25 times annual expenses in a portfolio split between stocks and bonds, with a 4 percent withdrawal rate intended to last 30 years.
The amount considered enough can vary based on income stability, spending patterns, and tax planning.
A 2024 study by a University of Pennsylvania Wharton School senior fellow found that wealthy people were significantly happier than the middle class. The researcher said greater wealth provides more control over daily life. "I think a big part of what's happening is that when people have more money, they have more control over their lives," the researcher told CBS News in 2024.
