We collect cookies to analyze our website traffic and performance; we never collect any personal data.Cookies Policy
Accept
Michigan Post
Search
  • Home
  • Trending
  • Michigan
  • World
  • Politics
  • Top Story
  • Business
    • Business
    • Economics
    • Real Estate
    • Startups
    • Autos
    • Crypto & Web 3
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Beauty
    • Art & Books
  • Health
  • Sports
  • Entertainment
  • Education
Reading: TikTok founder Zhang Yiming turns into China’s richest man with virtually $50bn fortune
Share
Font ResizerAa
Michigan PostMichigan Post
Search
  • Home
  • Trending
  • Michigan
  • World
  • Politics
  • Top Story
  • Business
    • Business
    • Economics
    • Real Estate
    • Startups
    • Autos
    • Crypto & Web 3
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Beauty
    • Art & Books
  • Health
  • Sports
  • Entertainment
  • Education
© 2024 | The Michigan Post | All Rights Reserved.
Michigan Post > Blog > World > TikTok founder Zhang Yiming turns into China’s richest man with virtually $50bn fortune
World

TikTok founder Zhang Yiming turns into China’s richest man with virtually $50bn fortune

By Editorial Board Published October 29, 2024 2 Min Read
Share
TikTok founder Zhang Yiming turns into China’s richest man with virtually bn fortune

TikTok’s founder Zhang Yiming has change into China’s richest man with a fortune of virtually $50bn (£38bn).

Dubbed the “short video king”, the 41-year-old topped the Hurun China Wealthy Checklist for the primary time with $49.3bn (£37.9bn).

Mr Yiming stepped down as chief government of ByteDance, TikTok’s father or mother firm, in 2021.

He’s the 18th particular person to be topped China’s richest particular person within the 26 years for the reason that Hurun China Wealthy Checklist started.

He dethroned bottled water magnate Zhong Shanshan, who slipped to second place as his fortune dropped 24% to $47.9bn (£36.8bn).

Quite a lot of the billionaires on the listing noticed their fortunes plummet over the previous yr with troublesome financial situations in China.

This comes throughout a authorized battle over ByteDance’s US property as TikTok could possibly be banned within the US subsequent yr except its father or mother firm goes via with a sale amid accusations it’s giving knowledge to the Chinese language authorities – one thing it denies.

Laws was handed by the Home of Representatives earlier this yr.

If the invoice turns into legislation, the proprietor of the favored video-sharing app could have 9 months to discover a purchaser, with a attainable three-month extension whereas a sale is in progress, or face a ban.

The FBI has warned that ByteDance might share consumer knowledge, resembling searching historical past, location and biometric identifiers, with China’s authoritarian authorities.

TikTok has mentioned it has by no means accomplished that and wouldn’t accomplish that if requested.

Regardless of the battle, ByteDance’s international income grew 30% final yr, and Mr Yiming nonetheless has a stake in it, serving to propel his private fortune.

China’s economic system has undergone a troublesome yr and has continued to lag within the aftermath of COVID, with an actual property disaster and a unstable inventory market.

TAGGED:50bnChinasfortuneFounderManrichestTikTokYimingZhang
Share This Article
Facebook Twitter Email Copy Link Print

HOT NEWS

Dodgers’ pitchers get torched throughout historic lopsided loss to hated Astros

Dodgers’ pitchers get torched throughout historic lopsided loss to hated Astros

Sports
July 7, 2025
Reeves’s tax turmoil deepens

Reeves’s tax turmoil deepens

👉Hearken to Politics at Sam and Anne's in your podcast app👈       Sir Keir Starmer shall…

July 7, 2025
Israeli soldier describes arbitrary killing of civilians in Gaza

Israeli soldier describes arbitrary killing of civilians in Gaza

"We have a territory that we are in, and the commands are: everyone that comes…

July 7, 2025
'There's a Tall Membership?' Sure, and it's in Michigan this week

'There's a Tall Membership?' Sure, and it's in Michigan this week

GRAND HAVEN, Mich. (WOOD) — The typical peak of individuals in Michigan is a bit…

July 7, 2025
Tips on how to Make Your Residence Really feel Like a Luxurious Resort

Tips on how to Make Your Residence Really feel Like a Luxurious Resort

We might obtain a portion of gross sales if you are going to buy a…

July 7, 2025

YOU MAY ALSO LIKE

Australian mom responsible of murdering three individuals with toxic mushrooms

An Australian mom has been discovered responsible of murdering her estranged husband's dad and mom and an aunt by serving…

World
July 7, 2025

Two safety employees injured after grenades thrown at help website, Gaza Humanitarian Basis says

Two American safety employees in Gaza had been injured after grenades had been thrown throughout meals distribution in Khan Younis,…

World
July 7, 2025

Dalai Lama turns 90: Worshippers together with Richard Gere journey to Himalayas to have fun

The Dalai Lama, the religious chief of Tibetan Buddhists, turns 90 on Sunday after every week of celebrations.1000's of worshippers…

World
July 7, 2025

Defiance in Tehran as Khamenei makes look

They rose to their toes in ecstatic shock, shouting "heydar, heydar" - a Shia victory chant.This was the primary public…

World
July 7, 2025

Welcome to Michigan Post, an esteemed publication of the Enspirers News Group. As a beacon of excellence in journalism, Michigan Post is committed to delivering unfiltered and comprehensive news coverage on World News, Politics, Business, Tech, and beyond.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 | The Michigan Post | All Rights Reserved

Welcome Back!

Sign in to your account

Lost your password?