Another Billionaire Closes in on Elon Musk, Becomes Chinas Richest [Video]

• The co-founder of ByteDance is now the richest person in China following growth of TikTok
• Zhang Yiming’s net wealth has increased by 43% since 2023 to $49.3 billion (£38 billion)
• TikTok has grown to become one of the most widely used social media apps worldwide over the years

Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.

Zhang Yiming, the co-founder of ByteDance, the parent company of TikTok, has become the richest person in China amid the app’s growing worldwide popularity.

Yiming is currently worth $49.3 billion (£38 billion), which is 43% higher than he was in 2023, according to a list created by the Hurun Research Institute.

Although the 41-year-old resigned as the company’s CEO in 2021, he is believed to still own about 20% of the business.

Despite serious worries about …