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China’s Richest Person? Founder of TikTok Parent Company ByteDance Tops Annual List
China's richest people list has been topped by Zhang Yiming, the founder of TikTok parent company ByteDance.
ByteDance founder Zhang Yiming tops the list of China’s richest people, according to the Hurun Research Institute, although many of them have seen their net worth plunge over the past year. New additions include Charlwin Mao and Miranda Qu Fang, the founders of Xiaohongshu, a social media and lifestyle platform popular with young users. China’s economy has lagged in the aftermath of the COVID-19 pandemic as the country grapples with a real estate crisis and a volatile stock market.
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