麻豆影视

Skip to main content

ByteDance founder Zhang Yiming tops China's rich list

Zhang Yiming, founder of ByteDance attends the opening ceremony of the 5th World Internet Conference in Wuzhen in east China's Zhejiang province on Nov. 7, 2018. (Chinatopix Via AP)
Zhang Yiming, founder of ByteDance attends the opening ceremony of the 5th World Internet Conference in Wuzhen in east China's Zhejiang province on Nov. 7, 2018. (Chinatopix Via AP)
Share
HONG KONG -

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.

The institute, which publishes the annual Hurun China Rich List, found that the total wealth of entrepreneurs on the list this year was US$3 trillion, down 10 per cent from the previous year.

The number of billionaires based on their net worth in U.S. dollars was also down 142, to 753. Hurun tallied 1,185 billionaires since 2021.

"The Hurun China Rich List has shrunk for an unprecedented third year running, as China's economy and stock markets had a difficult year," said Rupert Hoogewerf, chairman and chief researcher of the Hurun report.

ByteDance's Zhang came in No. 1 for the first time this year, with a net worth of $49.3 billion, according to Hurun. ByteDance, which is the parent company of popular short-video platforms Douyin and TikTok, saw its revenue grow to $110 billion last year.

He is also the first individual born in the 1980s to top the Hurun list.

Bottled water magnate Zhong Shanshan fell to second place in 2024 with $47.9 billion, after his brand Nongfu Spring faced backlash in February when consumers accused it of disloyalty to China due to designs of its bottles.

The backlash wiped out billions in market value for Nongfu Spring.

Coming in third is Tencent founder Pony Ma with a net worth of $44.4 billion, as the gaming firm saw its revenues rise.

This year's China Rich List had just 54 new names added to the list, the lowest figure in two decades. 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. Policymakers are expected to unveil major stimulus measures to encourage consumption and spending, which have declined in recent months.

CTVNews.ca Top Stories

Henrickson was a 17-year-old girl from Squamish who went missing after a house party on Bowen Island, during the then unusually warm summer of 2009.

A new report says when the province deregulated electricity generation in 2001, it forced Albertans to pay billions more for their power.

Nova Scotia鈥檚 Department of Labour has lifted its stop-work order at a Halifax Walmart more than a week after the body of 19-year-old Gursimran Kaur was discovered in an industrial oven in the store鈥檚 bakery.

N.S. teen charged for allegedly making threats to school

A Nova Scotia teen is facing numerous charges related to a complex swatting investigation. On Oct. 25, Nova Scotia RCMP, with the assistance of the Ontario Provincial Police, arrested a 14-year-old male at his home in Bridgewater, N.S.

Local Spotlight

Epcor says it has removed more than 20,000 goldfish from an Edmonton stormwater pond.

Witches and warlocks have been flocking to New Brunswick waterways this month, as a new Halloween tradition ripples across the province.

New Brunswicker Jillea Godin鈥檚 elaborate cosplay pieces attract thousands to her online accounts, as well as requests from celebrities for their own pieces.

A new resident at a Manitoba animal rescue has waddled her way into people's hearts.

Hundreds of people ran to the music of German composer and pianist Beethoven Wednesday night in a unique race in Halifax.

He is a familiar face to residents of a neighbourhood just west of Roncesvalles Avenue.

A meteor lit up our region's sky last night 鈥 with a large fireball shooting across the horizon over Lake Erie at around 7:00 p.m.

Residents of Ottawa's Rideauview neighbourhood say an aggressive wild turkey has become a problem.

A man who lost his life while trying to rescue people from floodwaters, and a 13-year-old boy who saved his family from a dog attack, are among the Nova Scotians who received a medal for bravery Tuesday.