TIKTOK OWNER BECOMES CHINA’S RICHEST PERSON

Mon 31 March 2025:

The founder of ByteDance, and owner of TikTok, Zhang Yiming, became the richest person in China. Bloomberg Billionaires Index showed on Thursday that he became the world’s 24th richest person.

Forbes Billionaires List and Hurun Rich List, a ranking of the richest individuals in China, also showed that he is the richest Chinese person.

According to Bloomberg, he has a wealth of $57.5 billion, while Forbes’ figure is at $65.5 billion. Yiming, 42, founded ByteDance in 2012, and the firm’s value is at over $400 billion as of January 2025. ByteDance is also the owner of popular mobile applications such as CapCut, Xigua Video, and Douyin.

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TikTok is a wildly popular short-form video app launched in 2016 by the Chinese company ByteDance, evolving from Musical.ly after a 2018 merger.

It lets users create, share, and watch 15-second to 3-minute clips, often featuring dances, lip-syncs, comedy skits, or trends fueled by catchy music and viral challenges. Its algorithm is the secret sauce—hyper-personalized, it learns your preferences fast, keeping you hooked with an endless “For You” page scroll. By 2025, it boasts over 1.5 billion monthly active users globally, dominating Gen Z and beyond.

It’s a cultural juggernaut, birthing stars like Charli D’Amelio and trends that spill into real-world hype. But it’s not all fun—concerns swirl around data privacy due to its Chinese roots, with fears of Beijing accessing user info prompting U.S. bans and restrictions. Creators can monetize through ads, brand deals, or a tipping system, while ByteDance rakes in billions. Love it or hate it,

TikTok’s reshaped entertainment in under a decade.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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