Yiming's net worth rose to $49.3 billionâ€"a 43% increase from 2023â€"making him the wealthiest individual on the Hurun China Rich List.
The 41-year-old's fortune has grown largely due to TikTok's rising influence, fueling ByteDance's financial growth, with global revenue reaching $110 billion in 2023.
TikTok continues to expand despite U.S. concerns over its Chinese ties. The U.S. has indicated plans to ban TikTok by January 2025 unless ByteDance sells it.
Yiming founded ByteDance in 2014, launching TikTok two years later. Now available in over 150 countries, TikTok has offices in cities like Beijing, Los Angeles, and Tokyo.
While Yiming stepped down as CEO of ByteDance in 2021, he retains a 20% stake in the company.
In the latest rankings, Yiming surpassed Zhong Shanshan of Nongfu Spring, whose wealth has declined to $47.9 billion.
Tech conglomerate Tencent founder Pony Ma ranks third with a net worth of $44.4 billion, as the gaming firm saw rising revenues.
Other Chinese billionaires who have appeared in previous lists, including the 2024 Forbes list, are Colin Huang ($38.9 billion), William Ding ($33.5 billion), Ma Huateng ($30.2 billion), He Xiangjian ($25.1 billion), Jack Ma ($24.5 billion), Eric Li ($16.8 billion), Qin Yinglin ($15.5).
Wycliffe Nyamasege
Source : https://en.igihe.com/news/article/tiktok-founder-named-china-s-richest-man
