ByteDance founder tops China's rich list for the first time, beating Tencent and Nongfu heads

Night view of the Lujiazui financial district in downtown Shanghai.ByteDance founder Zhang Yiming for the first time has emerged as China's richest person, according to a list compiled by Hurun Research Institute, leaving behind Nongfu Spring Chairperson Zhong Shanshan who has topped the rankings for three years.Zhang, 44, with a personal wealth of $49.3 billion, beat 'bottled water king' Zhong, whose wealth dropped 24% to $47.9 billion after a public backlash against his company in February. Zhang was rank ...