Zhang Yiming, who co-founded ByteDance, the company behind Tiktok, is now reported to be China's richest man with a fortune equivalent to $49.3 billion USD. The 41-year-old Yiming may no longer be the head of ByteDance, but he still holds a 20 per cent stake in the company, whose global profits grew by 60 per cent last year, helping to significantly boost Yiming's personal fortune.
Overall, as CNN reports, Yiming might be a bit of an outlier, as there are 142 less US-dollar billionaires in China compared to last year. China has also lost a third of its billionaires since 2021. Moreover, things aren't looking great for TikTok and ByteDance, as it is facing consistent legal pressure to cease operations in the US.
What would you do if you had $50 billion in your account?