TikTok founder Zhang Yiming tops China's billionaires list

According to the publication, ByteDance's global revenue grew by 30% last year to $110 billion, and the number of TikTok users in the USA approached 200 million.

Zhong Shanshan, the 70-year-old founder and chairman of bottled water company Nongfu Spring, dropped to second place on the list for the first time in three years, with a net worth of $47.9 billion. Third place went to Tencent founder Pony Ma with $44.4 billion. By the end of last year, the number of WeChat app users reached 1.3 billion.

According to Hurun, the number of dollar billionaires in China has fallen by 142 to 753. Shanghai overtook Shenzhen for the first time since 2013 to become the Chinese metropolis with the highest concentration of entrepreneurs on the list, following Beijing, which still holds the top spot.

Hong Kong, Macau, and Taiwan are home to 153 individuals on the list, an increase of 11 from the previous year, making up 14% of the total. Abroad, 30 people reside mainly in the USA and Singapore, with Singapore rising 6 places to 14th on the list of the most popular cities to live in on the China Rich List.

Recall that earlier, the popular social network TikTok was proposed to be blocked in Russia. In Kyrgyzstan, officials also announced plans to restrict access to the platform.

In late April, the European Commission launched proceedings against the platform. At the same time, US President Joe Biden signed a law requiring TikTok's owner to sell the social network. TikTok and its Chinese parent company ByteDance then sued the US government in an attempt to challenge the law.

In February of this year, the Minister of Culture and Information of Kazakhstan, Aida Balayeva, said that the issue of blocking the platform was also being considered in Kazakhstan. Senator Alisher Satvaldiev previously addressed the issue of negative content dissemination on TikTok in a parliamentary inquiry.