Thursday14 November 2024
lifeukr.net

The founder of TikTok has topped the list of China's richest individuals, with a net worth reaching $49.3 billion.

ByteDance owner Zhang Yiming has become the richest person in China.
Основатель TikTok возглавил список самых богатых людей Китая: его состояние достигло 49,3 миллиарда долларов.

Zhang Yiming, the 41-year-old founder of ByteDance, has been named the richest person in China according to the annual Hurun China Rich List. His personal wealth is estimated at $49.3 billion. He is the 18th individual to top this prestigious list in its 26-year history.

Reuters writes about this.

Zhang Yiming, who stepped down as CEO of ByteDance in 2021, surpassed the previous leader – bottled water magnate Zhong Shanshan, whose wealth has decreased by 24% to $47.9 billion. Despite legal disputes regarding assets in the U.S., ByteDance's global revenue rose by 30% last year to $110 billion.

The third position was taken by Tencent founder Pony Ma, while PDD Holdings creator Colin Huang dropped to fourth place. The overall number of billionaires on the list decreased by 142 individuals to 753, which is a third less than the peak figure in 2021.

According to Rupert Hoogewerf, chairman of Hurun Report, the real estate sector has suffered the most significant losses, while consumer electronics are showing rapid growth. Manufacturers of solar panels, lithium batteries, and electric vehicles are facing challenging times due to increased competition and the threat of tariffs.

Background. Previously, Mind reported that the Chinese company ByteDance, the parent company of TikTok, will develop a new artificial intelligence model based on Huawei Technologies chips.