{"id":164121,"date":"2024-10-29T21:03:36","date_gmt":"2024-10-29T21:03:36","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/10\/29\/tiktok-founder-zhang-yiming-becomes-chinas-richest-man-with-almost-50bn-fortune\/"},"modified":"2024-10-29T21:03:36","modified_gmt":"2024-10-29T21:03:36","slug":"tiktok-founder-zhang-yiming-becomes-chinas-richest-man-with-almost-50bn-fortune","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/10\/29\/tiktok-founder-zhang-yiming-becomes-chinas-richest-man-with-almost-50bn-fortune\/","title":{"rendered":"TikTok founder Zhang Yiming becomes China’s richest man with almost $50bn fortune"},"content":{"rendered":"
\"TikTok<\/div>


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TikTok’s founder Zhang Yiming has become China’s richest man with a fortune of almost $50bn (\u00a338bn).<\/p>\n

Dubbed the “short video king”, the 41-year-old topped the Hurun China Rich List for the first time with $49.3bn (\u00a337.9bn).<\/p>\n

Mr Yiming stepped down as chief executive of ByteDance, TikTok’s parent company, in 2021.<\/p>\n

He is the 18th individual to be crowned China’s richest person in the 26 years since the Hurun China Rich List began.<\/p>\n

He dethroned bottled water magnate Zhong Shanshan, who slipped to second place as his fortune dropped 24% to $47.9bn (\u00a336.8bn).<\/p>\n

A number of the billionaires on the list saw their fortunes plummet over the past year with difficult economic conditions in China.<\/p>\n

This comes during a legal battle over ByteDance’s US assets as TikTok could be banned in the US next year<\/a><\/strong> unless its parent company goes through with a sale amid accusations it is giving data to the Chinese government – something it denies.<\/p>\n

Legislation was passed by the House of Representatives earlier this year.<\/p>\n

If the bill becomes law, the owner of the popular video-sharing app will have nine months to find a buyer, with a possible three-month extension while a sale is in progress, or face a ban.<\/p>\n

Read more from Sky News:
Hollywood actor jailed for role in US Capitol attack<\/a>
Hotel building collapses – people feared trapped<\/a><\/strong>
Tram crashes into shop<\/a><\/strong><\/p>\n

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The FBI has warned that ByteDance could share user data, such as browsing history, location and biometric identifiers, with China’s authoritarian government.<\/p>\n

TikTok has said it has never done that and would not do so if asked.<\/p>\n

Despite the battle, ByteDance’s global revenue grew 30% last year, and Mr Yiming still has a stake in it, helping propel his personal fortune.<\/p>\n

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China’s economy has undergone a difficult year and has continued to lag in the aftermath of COVID, with a real estate crisis and a volatile stock market.<\/p>\n<\/p><\/div>\n


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TikTok’s founder Zhang Yiming has become China’s richest man with a fortune of almost $50bn (\u00a338bn). Dubbed the “short video king”, the 41-year-old topped the Hurun China Rich List for the first time with $49.3bn (\u00a337.9bn). Mr Yiming stepped down as chief executive of ByteDance, TikTok’s parent company, in 2021. He is the 18th individual […]<\/p>\n","protected":false},"author":2,"featured_media":164122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/e3.365dm.com\/24\/03\/512x512\/skynews-gfxwhatsapp-gfxwhatsapppromo_6490210.png","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[61644,7940,33614,5325,108,10623,231,127516,127515],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/164121"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=164121"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/164121\/revisions"}],"predecessor-version":[{"id":164123,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/164121\/revisions\/164123"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/164122"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=164121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=164121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=164121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}