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ByteDance founder tops China’s rich list for the first time, beating Tencent and Nongfu heads

  • Zhang Yiming, founder of ByteDance, is now China's richest person with a wealth of $49.3 billion, surpassing Zhong Shanshan, whose wealth dropped to $47.9 billion.
  • Zhong Shanshan, the 'bottled water king', experienced a 24% decline in wealth after a public backlash against his company earlier this year.
  • Zhang's rise to the top is attributed to TikTok's growing global popularity, leading to a 43% increase in his wealth since 2023.
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