Zhang Yiming Becomes China's Richest Person with $57.5 Billion

Zhang Yiming, the founder of ByteDance, has become China's richest person for the first time, with a net worth of $57.5 billion, according to the Bloomberg Billionaires Index. This milestone sees him surpassing Zhong Shanshan, the founder of Nongfu Spring, and Tencent's Ma Huateng. Zhang's wealth surged by over $10 billion following an increase in ByteDance's enterprise value, which is now estimated at $365 billion. He ranks as Asia's third richest individual, trailing only Mukesh Ambani and Gautam Adani. Having stepped down as CEO of ByteDance in 2021, Zhang has expressed a preference for roles that focus on corporate culture and long-term strategies rather than direct management. Despite his wealth, Zhang is known for his privacy and a preference for solitary activities.