'New Definition of Pre-Rich,' Binance's CZ Reacts as Elon Musk Exits Trillionaire Club

Changpeng Zhao, the co-founder of the world's largest cryptocurrency exchange Binance, has stirred discussions after reacting to Elon Musk's joke about losing his trillionaire status.

CZ has also made jokes after joining the conversation when Elon Musk jokingly referred to himself as a "(Former) Trillionaire", giving it a new definition.

Binance's CZ says Elon Musk is "pre-rich"

Following a post that showed the SpaceX founder and big Dogecoin fan laughing off his recent decline below the $1 trillion mark, CZ joined the jokes.

In his statement, CZ gave a different definition to Musk's "former trillionaire" label, saying it is a new definition of "pre-rich."

Although the news about Elon Musk losing over $100 billion from his net worth had earlier sparked pitiful discussions across the social space, his recent jokes suggest he is not entirely bothered about the decline.

The comments from CZ have further stirred reactions from the crypto community, with many finding humour in the idea that someone worth hundreds of billions of dollars could be described as "pre-rich."

While both Musk and CZ are known for their playful social media interactions, their humorous statements about such a huge financial loss have got the community talking.

SpaceX drops despite record launch

While this is not the first time Musk has slipped in and out of the trillionaire club, the SpaceX founder still maintains his status as the world's richest person.

His recent decline from the milestone came after his aerospace company saw a notable decline in its stock price despite a record IPO launch.

With SpaceX making up the majority of his wealth, the decline in the company's stock has largely contributed to Elon Musk's current "former trillionaire" status.