Zhang Yiming, founder of TikTok parent ByteDance, is now China’s richest man: report

ByteDance founder Zhang Yiming has become China’s richest person according to the Hurun China Rich List 2024, with a fortune of $49.3 billion. The 41-year-old surpassed previous leader Zhong Shanshan, whose wealth dropped 24% to $47.9 billion. ByteDance’s global revenue rose 30% to $110 billion in 2023, boosting Zhang’s wealth despite TikTok’s legal challenges in the US. China’s billionaire count dropped by 142 to 753, reflecting economic challenges.READ FULL