Hurun Rich List: Bytedance's Zhang Yiming Tops China List With $43.9Bn Wealth... How Does He Compare To Mukesh Ambani?
Date
10/30/2024 2:00:43 AM
(MENAFN- Live Mint) Hurun Rich List: ByteDance founder Zhang Yiming has topped Hurun China's richest people list this year, with a net worth of $49.3 billion, AP reported. ByteDance is the parent company of the video-focused social media platform TikTok and its Chinese counterpart Douyin.
This is the first time that Zhang has topped the list; notably, he is also the first person born in the 1980s to top the country's Hurun list, the report added.
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Zhang is followed by last year's list topper and Nongfu Spring owner Zhong Shanshan , worth $47.9 billion. The bottled water empire billionaire saw his net worth plummet by billions after customers accused the company's bottle designs of being "disloyal" to China, as per the report.
Rounding out the top three is Tencent founder Pony Ma, worth $44.4 billion. He has risen on the list due to impressive revenues from the company's gaming unit.
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The Hurun Research Institute noted that many Chinese billionaires saw their net worths sink during this year, with the collective wealth reaching $3 trillion - down 10 per cent compared to 2023 figures, AP reported.
Further, the total number of billionaires has also slid (when converting to USD) down to 142 people to 753 this year, compared to 1,185 billionaires in 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,” Rupert Hoogewerf, chairman and chief researcher said in the Hurun report.
In terms of new names added, this year China had only 54 new billionaires - its lowest addition in two decades, the report noted.
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