TikTok boss becomes China's richest billionaire under 40
TikTok and Douyin founder Zhang Yiming has risen to the top of the list of billionaires under 40 in China.
The South China Morning Post (SCMP) cited data from the Hurun Research Institute in Shanghai, China, saying that Mr. Zhang's assets as of mid-September 2021 had increased from 230 billion yuan (36.1 billion USD) to 340 billion yuan.
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| TikTok and Douyin founder Zhang Yiming. Photo: Bloomberg |
“Zhang Yiming will probably become the richest man in China, especially if ByteDance successfully conducts an IPO,” said Hurun Research Institute Chairman Rupert Hoogewerf.
According to SCMP, in October 2021, Mr. Truong ranked second in the list of China's richest people, just behind billionaire Zhong Shaan Shaan of Nongfu Bottled Water Company, and surpassed Tencent Holdings founder Pony Ma and Jack Ma of Alibaba Group Holding.
“The total assets of entrepreneurs under 40 years old increased by 7% year-on-year to 1.097 trillion yuan,” Hoogewerf added.
