In Pics| China's rich list: Jack Ma drops, TikTok founder moves up
Zhong Shanshan
With US$60.5bn, Zhong Shanshan topped the list for the first time. In the past year, Nongfu Spring and Wantai Bio, two of his listed companies, grew by 10% and 40%, respectively.
Zhang Yiming
Zhang Yiming, CEO of ByteDance (which owns TikTok), tripled his wealth to move up 28 positions to second with $52.8bn.
ByteDance doubled its revenues last year and reached 1.9 billion monthly active users with 110,000 employees. Zhang announced this year that he would step down as CEO, a role that was taken over by his co-founder Liang Rubo.
Zeng Yuqun
With 49.7 billion dollars, Zeng Yuqun (CATL- Contemporary Amperex Technology Co., a global leader in lithium-ion battery development and manufacturing) is at third position, outpacing last year's ranking by 21 places and 29 billion dollar increase in wealth.
Jack Ma
Jack Ma previously topped the list for three years running, and was last year's richest person, dropped to fifth with a net worth of $39.6 billion. After Ant Group's initial public offering was suspended and Alibaba was fined a record amount due to monopolistic behaviour, his wealth decreased by $22.6bn (36%).
Pony Ma Huateng
Pony Ma Huateng, CEO Tencent (developed WeChat) fell two places to fourth with US$49 billion, down 19%.
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