Zhang Yiming, the co-founder of ByteDance, which happens to be the parent company of TikTok has seen a significant rise in his wealth status.
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The young entrepreneur has now been declared as the richest man available in China currently.
According Hurun Research Institute, Zhang Yiming is now having a net worth of $49.3bn (£38bn) – 43% more than what he was worth in 2023.
The 41-year-old step down from his role in charge of the company back in 2021, but he still own around 20% of stake in the firm.
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TikTok is known as one of the post popular social media platforms in the world and has already faced scrutiny for US and other countrie.
