The founder of Tiktok became the richest person in China. Who is Zhang Yiming? Everything you need to know
Zhang Yiming, who founded Tiktok’s parent company Bytedance Ltd., is now the richest person in China, according to Bloomberg.
BONTEDANCE founders ranked Bloomberg’s list on Wednesday with a $57.5 billion wealth. He surpassed Zhong Shanshan and Tencent Holdings co-founder Ma Huateng to finish first place.
Zhang Yiming ranked after Mukesh Ambani, Gautam Adani
According to the Bloomberg Billionaire Index, Zhang Yang is now the third richest person in Asia, behind Reliance Chairman Mukesh Ambani and Adani Group Chairman Gautam Adani.
Mukesh Ambani is the richest person in Asia with a net worth of $900.9 billion, while Gautam Adani has a net worth of $72.3 billion next.
According to a Bloomberg report, the Tiktok founder’s Wealth grew $10 billion after analyzing the valuations of investors BlackRock Inc., Fidelity Investments and T. Rowe Price Group Inc. and the company plans to buy back its employees’ shares at a valuation of $312 billion.
Who is Zhang Yiming?
Zhan Yiming recently returned to a huge comeback after his flagship app faced near-term U.S. threats.
The 41-year-old founded BOTTEDANCE in a four-bedroom Beijing apartment in 2012 and developed the news aggregator Toutiao and video sharing platform Tiktok. The app became a sabotage in the internet space and shot Zhang at the team of the richest people in the world.
Zhang resigned as CEO of Bytedance in 2021, but according to Reuters, he still has more than 50% of Bytedance’s voting rights.
Zhang was born in Langyang, Fujian, China in 1983 and is the only child of his civil servant parents.
He majored in microelectronics engineering and software engineering at Nankai University in Tianjin.
Before founding Bytedance in 2012, Zhang worked at Microsoft for a while but left the job due to strict company rules.
He launched Bytedance’s video sharing app Tiktok in 2015. The app is instantly popular among millennials around the world and is widely popular around the world.
Bytedance has more than 1 billion monthly users of mobile apps since the end of 2018.
Forbes named Zhang in its 2013 list of 30 under 30 in China. He then published the 40 Under 40 list of Fortune magazine’s 2018 list of Fortune magazine and the 40 Most Influential People of Time in 2019.
Forbes pegs Zhang Yiming has a real-time net worth of $65.5 billion.
