Reported 29 days ago
Zhang Yiming, the founder of ByteDance, has become the richest person in China with a net worth of $49.3 billion, according to the latest Hurun China Rich List. He surpassed Zhong Shanshan, whose wealth fell to $47.9 billion, while the total number of billionaires in China dropped significantly this year. ByteDance's revenue growth, despite legal challenges in the U.S., contributed to Zhang's rise in wealth, highlighting a shift in fortunes within China's economy, particularly impacting the real estate and renewable energy sectors.
Source: YAHOO