SHANGHAI — ByteDance founder Zhang Yiming is China’s richest person, with personal wealth of $49.3 billion, an annual rich list showed Tuesday, although counterparts in real estate and renewables have fared less well.
Zhang, 41, who stepped down in 2021 as chief executive of ByteDance, the Beijing-based parent company of TikTok, becomes the 18th individual to be crowned China’s richest person in the 26 years since the Hurun China Rich List was first published.
He overtook bottled water magnate Zhong Shanshan, who slipped to second place as his fortune dropped 24%, to $47.9 billion.
Despite a legal battle over its U.S. assets, ByteDance’s global revenue grew 30% last year to $110 billion, Hurun said, helping to propel Zhang’s personal fortune.
The number of billionaires on the list dropped by 142 to 753, shrinking more than a third from its 2021 peak.
Persons:
Zhang Yiming, Zhang, China Rich, Zhong Shanshan, Hurun, Pony Ma, Colin Huang, ”, Rupert Hoogewerf, Lei, Hoogewerf
Organizations:
SHANGHAI, ByteDance, PDD Holdings
Locations:
Beijing, China