TikTok's founder Zhang Yiming, one of the richest people in the world, has $ 60 billion in assets - Newztezz Online


Wednesday, April 14, 2021

TikTok's founder Zhang Yiming, one of the richest people in the world, has $ 60 billion in assets

Zhang Yiming, the founder of TikTok, has become one of the richest people in the world. 
The total assets of 38-year-old Yiming have been stated to be $ 60 billion. Until last year, ByteDance Ltd., owned by TickTalk, was the world's most valuable startup. But even after this, strict actions had to be faced from all four sides. The Trump administration pressurized the Chinese company to sell shares of Ticketcock. On the other hand, Beijing was also taking action on the tech business and India also banned some Chinese apps, including TicketLock.

However, even after all this, ByteDance continued to grow rapidly. Now its founder Zhang Yiming has joined the list of world's richest people. But it is also a danger for them to achieve this position while living in China. The company currently has $ 250 billion in shares. In this way, Zhang, who owns a quarter of ByteDance, has $ 60 billion in assets. According to the Bloomberg Billionaires Index, this is how Pony Ma of Zhang Tencent Holdings Limited, King Zhong Shanshan of Bottle Water and Walton & Koch of America stand in line with family members.

ByteDance's income doubled from last year

ByteDance is famous for its short video app and news app. After increasing its business in areas like e-commerce and online gaming, ByteDance's income has doubled since last year itself. Ma Rui, partner at venture capital firm Synaptic Ventures, said that Zhang is a person known for his long-term thinking. He is not quickly disappointed by the short-term failures. He said that Zhang is engaged in creating a sustainable and global business.

Big profit for the company in three years

The value of ByteDance reached $ 180 billion during the last fundraising round. Three years ago it was valued at $ 20 billion, which shows how much profit has been made. At the same time, some investors in the private market say that ByteDance is worth $ 350 billion according to their shares. On the other hand, private-equity investors have valued the company at $ 400 billion. If these things are true, it will mean that Zhang's wealth will increase more. However, representatives of ByteDance have not commented on the matter.

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