(MENAFN- ValueWalk)
konkarampelas / Pixabay
The net worth of Yiming Zhang, a 38-year-old founder of the company behind TikTok , has reached USD 59.4 billion.
Get Our Activist Investing Case Study!
Get the entire 10-part series on our in-depth study on activist investing in PDF. Save it to your desktop, read it on your tablet, or print it out to read anywhere! Sign up below!
Q3 2021 hedge fund letters, conferences and more
Carlson Capital's Double Black Diamond Jumps On Energy Sector Holdings
Clint Carlson's hedge fund, Carlson Capital's Double Black Diamond strategy, gained 1.04% net of fees in the month of September. Following this performance, the fund has returned 9.87% net of fees for the year to the end of the month. Q3 2021 hedge fund letters, conferences and more The Double Black Diamond strategy makes up Read More
The Net Worth Of ByteDance Founder Yiming Zhang
In 2016, ByteDance released what would become the world's most popular app, TikTok. Five years later, Yiming Zhang, the founder of ByteDance, has seen his net worth to USD 59.4 billion, as announced by Forbes on October 20, 2021.
He had surpassed Huateng Ma (net worth of USD 50.4 billion ), the founder of Tencent (TCEHY :OTCMKTS), to became the richest man in China's Internet Industry. Shanshan Zhong (net worth of USD 64.3 billion ), the richest man in China and the founder of beverage company Nongfu Spring , took a USD 5 billion lead ahead of Zhang.
Zhang and TikTok's success witnessed the transaction of Chinese online entertainment from the traditional internet to the mobile era.
In his letter to employees on the TikTok US sale, Zhang stated: "I am confident in the long-term success of TikTok, and believe we can become an even more trusted product. Together, we have created a platform where hundreds of millions of people come for entertainment and connection, bringing joy and information to our users, including our community of creators and artists who create content, build livelihoods and realize value on the platform . TikTok — a window, canvas and bridge for our user community — is already an important part of global culture."
Article by Enoch Gao, Equal Ocean , an investment research firm focusing on China.
Updated on Oct 21, 2021, 10:59 am
MENAFN21102021005205011743ID1103016020
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.