TikTok founder becomes China's richest man

Zhang Yiming's fortune has leapt to almost $50bn, according to a newly published rich list.

British Broadcasting CorporationWatchHomeNewsUS ElectionSportBusinessInnovationCultureArtsTravelEarthVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC InDepthBBC VerifyUS ElectionElection pollsKamala HarrisDonald TrumpJD VanceTim WalzSportBusinessExecutive LoungeTechnology of BusinessWomen at the HelmFuture of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsArtsArts in MotionTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingVideoLiveLive NewsLive SportHomeNewsUS ElectionSportBusinessInnovationCultureArtsTravelEarthVideoLiveAudioWeatherNewslettersTikTok founder becomes China's richest manGetty ImagesThe surging global popularity of TikTok has seen the co-founder of its parent company, ByteDance, become China's richest person.

According to a rich list produced by the Hurun Research Institute, Zhang Yiming is now worth $49.3bn (£38bn) - 43% more than in 2023.

The 41-year-old stepped down from his role in charge of the company in 2021, but is understood to own around 20% of the firm.

TikTok has become one of the most popular social media apps in the world, despite deep concerns in some countries about its ties to the Chinese state.

While both companies insist they are independent of the Chinese government, the US intends to ban TikTok in January 2025 unless ByteDance sells it.

https://www.bbc.com/news/articles/c8dmql101dno

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