ByteDance founder Zhang Yiming is now China’s wealthiest individual with a personal fortune of $49.3 billion, the Hurun China Rich List revealed on Tuesday. Yiming saw his wealth grow alongside ByteDance’s global revenue increase of 30% to $110 billion last year despite ongoing legal battles over its U.S. assets. Tencent’s Pony Ma and PDD’s Colin Huang follow in third and fourth place. Yiming's position underscores the tech sector’s continued influence, even as China's economy sees a downturn.
