TikTok founder Zhang Yiming becomes China’s richest man with almost $50bn fortune | World News
TikTok's founder Zhang Yiming has become China's richest man with a fortune of almost $50bn (£38bn).Dubbed the "short video king", the 41-year-old topped the Hurun China Rich List for the first time with $49.3bn (£37.9bn).
Mr Yiming stepped down as chief executive of ByteDance, TikTok's parent company, in 2021.He is the 18th individual to be crowned China's richest person in the 26 years since the Hurun China Rich List began.He dethroned bottled water magnate Zhong Shanshan, who slipped to second place as his fortune dropped 24% to $47.9bn (£36.8bn).
A number of the billionaires on the list saw their fortunes plummet over the past year with difficult economic conditions in China.This comes during a legal battle over ByteDance's US assets as TikTok could be banned in the US next year unless...










