Home ยป The Enigmatic Rise of Zhang Yiming: Founder of ByteDance and TikTok Owner, Now China’s Top Billionaire

The Enigmatic Rise of Zhang Yiming: Founder of ByteDance and TikTok Owner, Now China’s Top Billionaire

According to the Hurun Research Institute, the wealthiest individual in China this year is Zhang Yiming, the founder of ByteDance, with a net worth of $49.3 billion USD, a 43% increase from 2023. Starting ByteDance in 2012, he introduced globally recognized video-sharing apps like TikTok and Douyin in China. Stepping down as CEO in 2021, Zhang Yiming holds around 20% of ByteDance’s shares, a company still classified as a startup and not publicly traded.

Among the tech tycoons in China listed in the report, Pony Ma, the CEO and founder of Tencent, ranks third with $44.4 billion USD, while Colin Huang Zheng, the founder of Pinduoduo, ranks fourth with $34.5 billion USD.

Source: BBC

TLDR: Zhang Yiming, the founder of ByteDance, tops the Hurun Research Institute’s list of China’s wealthiest individuals this year with a net worth of $49.3 billion USD, while Pony Ma of Tencent and Colin Huang Zheng of Pinduoduo also secure top spots on the list.

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