0 Shares 70 Views

TikTok Founder Zhang Yiming, 41, Becomes China’s Richest Person

gisthub Oct 30, 2024
0 71

China has a new richest person: Zhang Yiming, the entrepreneur behind TikTok.

Zhang, 41, co-founder of TikTok’s parent company ByteDance, topped the 2024 Hurun China Rich List, which was released on Tuesday, October 29.

His wealth is estimated at $49.3 billion, according to Hurun Inc., which publishes rankings of the country’s wealthiest individuals.

Zhang’s rise comes after ByteDance’s global revenue increased by 30% last year, reaching $110 billion. Since its official launch in May 2017, TikTok has gained massive global popularity, becoming a defining social media platform for many young people worldwide.

Zhang owns 20% of ByteDance, which he co-founded with his college roommate Liang Rubo in Beijing in 2012. He stepped down as CEO in 2021 after transforming ByteDance into one of the most prominent names in Chinese tech.

ByteDance also operates China’s popular news app Toutiao and Douyin, TikTok’s sister app in China.

Zhang’s ascent to the top of the rich list has pushed China’s “bottled water king,” Zhong Shanshan, out of the lead spot for the first time in three years, though Zhong remains in second place.

You may be interested

Rotary Club of Omole Golden Donates ICT LAB to Ajuwon High School
Education, Technology
0 shares27 views

Rotary Club of Omole Golden Donates ICT LAB to Ajuwon High School

gisthub - Apr 04, 2025

The Rotary Club of Omole Golden has inaugurated a solar-powered Information Communication Technology laboratory for Ajuwon Junior Secondary School, Lagos. The club president,…

Hyenas Nearly Killed Me – Ex-NYSC DG Tsiga Recounts Harrowing Ordeal In Kidnappers’ Den
General, Government
0 shares13 views

Hyenas Nearly Killed Me – Ex-NYSC DG Tsiga Recounts Harrowing Ordeal In Kidnappers’ Den

gisthub - Apr 04, 2025

Former Director-General of the National Youth Service Corps, General Maharazu Tsiga, has shared his harrowing experience while in captivity. Tsiga, who was freed…

Olmo And Victor Given Green Light To Finish Season With Barcelona
Sport
0 shares15 views

Olmo And Victor Given Green Light To Finish Season With Barcelona

gisthub - Apr 03, 2025

Spain’s sports council announced on Thursday that Dani Olmo and Pau Victor will be allowed to play for Barcelona until the end of…

Leave a Comment

Your email address will not be published.

Most from this category