TikTok’s growing global popularity has propelled the co-founder of its parent firm, ByteDance, to become China’s richest person.
According to a comprehensive list compiled by the Hurun Research Institute, Zhang Yiming is now worth $49.3 billion (£38 billion), 43% higher than in 2023.
The 41-year-old left his position as CEO in 2021 but is said to possess approximately 20% of the corporation.
TikTok has become one of the world’s most popular social media apps, despite grave worries in some nations about its ties to the Chinese government.
While both businesses claim to be independent of the Chinese government, the US plans to prohibit TikTok in January 2025 unless ByteDance sells it.
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