As of mid-September, the 38-year-old’s wealth has increased from 230 billion yuan ($36.1 billion) to 340 billion yuan over the same period last year.
This is the biggest leap in how rich Zhang is compared to his peers, and if kept at that pace, the ByteDance boss will soon become China’s richest man if the IPO is successful, according to Hurun.
32 entrepreneurs are added to China’s list of billionaires under the age of 40 in 2021, the most since Hurun began compiling the under-40 list. Most are in the manufacturing, retail and entertainment sectors.
Ye Gang, co-founder of Sea Group, the consumer internet company that owns the online shopping platform Shopee, is the second-richest person under the age of 40 with a net worth of 70 billion yuan. Sea Group is backed by China’s Tencent, according to the newspaper South China Morning Post (SCMP).
Chris Xu, founder and CEO of online fast-fashion retailer Shein, just joined this year’s ranking but has already risen to third place with a net worth of around 40 billion yuan.
Li Xiang, founder of Li Auto in Hong Kong and listed on the Nasdaq, ranked fourth after his fortune rose 63% to 39 billion yuan amid China’s electric vehicle boom.
ByteDance is the parent company of TikTok and Douyin, two fun short video sharing platforms that attract billions of users globally. Douyin is the domestic version and TikTok is the international version for markets outside of China.
Follow SCMP, billionaire Truong’s company is a popular “unicorn” in China – a term used to refer to startups worth more than 1 billion USD.
Hurun’s Global Unicorn Ranking ranks ByteDance at number 1 in the world with a value of $ 350 billion, surpassing the Ant Group of billionaire Jack Ma.
In the list of Chinese billionaires in 2021, Truong Nhat Minh ranked second, just behind billionaire Chung Shaan Shaan of Nongfu Spring Bottled Water Company and Beijing Wantai Biopharmaceutical Company.
The total wealth of entrepreneurs under the age of 40 has reached 1.097 trillion yuan, up 7% year-on-year. Eleven entrepreneurs have been dropped from Hurun’s 2021 rankings due to a drop in wealth, most of them billionaires in the tech and private education sectors.
According to newsnpr.org. Source of photo: internet