Zhang Yiming has emerged as the wealthiest person in China, with a net worth reaching $49.3 billion.
Zhang founded ByteDance Group, the Chinese tech giant that owns the globally popular platform TikTok, which has around 200 million users in the United States alone.
At 41, Zhang stepped down as ByteDance CEO in 2021 but still holds substantial assets in the company, which saw a 30% increase in global revenue last year.
According to Forbes, the Hurun China Rich List places Zhang’s wealth at $49.3 billion (over €45 billion). Close behind is bottled-water magnate Zhong Shanshan, whose net worth fell by a quarter to $47.9 billion (€44.55 billion).
Third place goes to Tencent founder Pony Ma, followed by Colin Huang, owner of Pinduoduo and Temu, in fourth.
