The TikTok owner's net worth is now $49.3 billion.
Zhang Yiming, the owner of TikTok is now 41 years old, and in 2021 he decided to step down from the chief executive role at ByteDance. The ByteDance company is known for its popular social media platform, TikTok which currently has more than a billion active users worldwide. And according to the Hurun Research Institute, the company's profits increased by 30% last year.
TikTok represents a social media platform that allows users to create, share, and also discover short videos. Was first launched in 2016 by TikTok owner Zhang Yiming, and has gained very fast popularity among users. Currently, TikTok is probably the most used social media platform, with billions of active monthly users.
Until now, the first ranked in the Hurun annual rich list was the “king” of bottled water, Zhong Shanshan, who owns Nonfu Spring, China’s biggest maker of bottled water. This wealth dropped by 25% to $47.8 billion after a public reaction against the company earlier this year.
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It’s impressive how ByteDance Global's revenue managed to grow 30% last year to $110 billion since ByteDance had a legal battle about the company assets in the U.S.
In the Hurun annual rich report, after Zhong Shanshan, third on the list was Pony Ma, which is the Tencent founder and CEO with a fortune of $44.4 billion. Even if his wealth increased by 13% due to the great revenue and profit of the Tencent company, Pony Ma still dropped one spot to third place in the Hurun list.
Fourth on the list was Colin Huang, the founder of an e-commerce platform called Pinduoduo, due to his wealth decreasing by 9%.
It’s important to mention that the number of rich people who become billionaires on this Hurun list has dropped by 753, with 142 fewer people than in last year's annual report.
According to Rupert Hoogewerf, which is the Hurun Report Chairman, he stated that "China’s economy and stock markets had a difficult year,”.
But the biggest fall in fortune this year was in the real estate sector in China, according to Rupert Hoogewerf, and consumer electronics is experiencing a fast increase, especially with the Xiaomi company.
"Solar panel, lithium battery and EV makers have had a challenging year, as competition intensified, leading to a glut, and the threat of tariffs added to uncertainties,", he said.
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