Zhang Yiming, the founder of ByteDance Ltd. and the mastermind behind TikTok, has officially become China’s richest person, amassing a staggering $57.5 billion fortune.
His rise to the top of Bloomberg’s Billionaires Index sees him surpassing previous titleholders, including bottled water tycoon Zhong Shanshan and Tencent Holdings co-founder Ma Huateng.
This monumental achievement is fueled by ByteDance’s soaring valuation, which currently stands at an impressive $312 billion. Despite stepping down as CEO in 2021, Zhang retains over 50% of the company’s voting rights, ensuring his continued influence over one of the world’s most powerful tech giants.
Zhang, born in 1983 in Longyan, Fujian, launched ByteDance in 2012 from a modest four-bedroom apartment in Beijing. His entrepreneurial journey took off after he developed the AI-driven news aggregator Toutiao, followed by TikTok, the short-video platform that skyrocketed to global fame, captivating millions of users across continents.
Before his groundbreaking success, Zhang had a brief stint at Microsoft but left due to a desire for creative freedom and innovation. His efforts have not gone unnoticed, earning him prestigious recognitions such as Forbes’ 2013 China 30 Under 30, Fortune’s 40 Under 40 in 2018, and a spot in Time Magazine’s 100 Most Influential People in 2019.
Zhang’s meteoric rise is a testament to his business acumen and relentless drive. His success story continues to inspire aspiring entrepreneurs worldwide, proving that innovation and strategic vision can lead to extraordinary wealth and global impact.
