Founder of TikTok parent company lost US$17 billion in 2022

ZHANG Yiming, the founder of TikTok parent company ByteDance, saw his personal fortune fall by US$17 billion (RM74.8 billion) last year, according to a new Chinese ranking published today.   

The reasons for the losses are unknown, but Zhang is still the second-richest entrepreneur in the world under the age of 40, with wealth valued at US$37 billion, according to statistics published by the Chinese firm Hurun.