ByteDance’s Zhang Yiming tops China rich list as wealth hits RM215.5b

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SHANGHAI, Oct 29 — ByteDance founder Zhang Yiming is China’s richest person, with personal wealth of US$49.3 billion (RM...

The most dramatic falls in fortunes have come from China’s real estate sector, he added, while consumer electronics is clearly rising fast, with Xiaomi founder Lei Jun adding US$5 billion to his wealth this year.“Solar panel, lithium battery and EV makers have had a challenging year, as competition intensified, leading to a glut, and the threat of tariffs added to uncertainties,” said Hoogewerf, who is also the list’s chief researcher.“Solar panel makers saw their wealth down as much as 80 per cent from the 2021 peak, while battery and EV makers were down by half and a quarter respectively.

He overtook bottled water magnate Zhong Shanshan, who slipped to second place as his fortune dropped 24 per cent to US$47.9 billion.

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Category: EconomyBusiness

Markets: MalaysiaChinaIsrael

Topics: Rich list Colin Huang China Zhang Yiming Bytedance Tencent Holdings PDD holdings Pony Ma Zhong Shanshan

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-29 @ 15:00:22 (3 days ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 305 words

Reading Time: 2 minutes read

Sentences: 13 lines

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Copyright Owner: © Malay Mail

News ID: 23362096

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