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ByteDance, Pinduoduo founders become China's second, third richest


In the latest annual rich list released by mainland media New Fortune, the founders of ByteDance and Pinduoduo have surpassed Tencent's Pony Ma Huateng and Alibaba's Jack Ma Yun to become the second and third wealthiest individuals in China. Zhang Yiming, the founder of ByteDance, which owns TikTok, climbed two spots to claim the second position with a combined wealth of CNY310.5bn (USD44.1bn). Colin Huang Zheng, the founder of Pinduoduo, secured the third spot with a personal fortune of CNY260.36 bn. Despite a decrease in the wealth of seven billionaires in the top 10 compared to last year, Zhong Shanshan, the founder of Nongfu Spring, maintained his position at the top of the New Fortune Top 500 Rich List for the third consecutive year, with a net worth of CNY456.2bn.

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