TikTok Founder is Now the Richest Man in China
Zhang Yiming, co-founder of ByteDance, now tops China’s rich list as the wealthiest person in the country. The Hurun Research Institute reports that Zhang’s fortune has surged by 43% over the past year, reaching $49.3 billion. This growth reflects the skyrocketing value of ByteDance and the global popularity of its flagship app, TikTok, which has transformed the way people create and consume content worldwide.
Although Zhang stepped down as ByteDance’s CEO in 2021, he still holds a 20% stake in the company, keeping him closely connected to TikTok’s performance. However, the platform faces a potential ban in the U.S. unless ByteDance divests from it by early 2025. As TikTok’s popularity continues to rise, so does the scrutiny ByteDance faces across global markets, making Zhang’s fortune a reflection of both success and uncertainty.
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