ByteDance founder Zhang Yiming tops China's richest list

HONG KONG: ByteDance founder Zhang Yiming has topped China's 2024 rich list, according to the Hurun Research Institute, despite a challenging year that saw net worths decline for many of the country's wealthiest.

Zhang, whose company owns the popular short-video platforms Douyin and TikTok, is the first person born in the 1980s to lead the Hurun China Rich List, with an estimated net worth of US$49.3 billion.