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TikTok Founder Becomes China’s Richest Person

Zhang Yiming, the visionary behind ByteDance and its flagship app TikTok, has ascended to the status of the richest person in China, boasting a remarkable fortune of $49.3 billion. This milestone marks a significant 43% increase in his wealth since 2023, according to the latest Hurun Research Institute report.

Key Highlights

Zhang, 41, co-founded ByteDance and stepped down from his leadership role in 2021. However, he continues to hold around 20% of the company’s shares, ensuring his substantial stake in its ongoing success. TikTok has emerged as a global phenomenon, captivating millions of users worldwide despite ongoing security concerns and accusations regarding its ties to the Chinese government. ByteDance has vigorously denied these allegations, which suggest that TikTok could be a tool for espionage.

The platform’s future remains uncertain, particularly with the impending U.S. ban on TikTok set for January 2025. This move forces ByteDance to consider selling its highly prized recommendation algorithm, a crucial element that has propelled TikTok to unprecedented heights in the social media landscape.

Despite the challenges posed by U.S. regulations, ByteDance reported an impressive 60% increase in global profits last year, demonstrating its resilience and adaptability in a competitive market. Zhang Yiming’s rise to wealth also reflects broader trends in the Chinese tech industry, where economic conditions have shifted significantly.

The Tech Landscape in China

Zhang is not alone at the top of China’s wealth rankings. Ma Huateng, the head of Tencent, known for its dominance in the gaming industry, ranks third with an estimated net worth of $43.5 billion. However, the fortunes of these tech giants have not been immune to the economic slowdown affecting China. This downturn has hindered competitors from achieving more substantial gains, leading to a situation where only 30% of the individuals on the rich list saw an increase in their net worth this year.

The concentration of wealth among these tech leaders highlights the unique dynamics of China’s economy, where innovation and digital platforms continue to play pivotal roles. As Zhang Yiming solidifies his position at the top, the future of TikTok and ByteDance will be closely watched, particularly in the context of global regulatory pressures and market competition.

bbf: Presents :eden coast — The Art Of Living By The Mediterranean

Some destinations are remembered for where they are. Others for how they make us feel.

Life by the Mediterranean has a quality of its own. Defined by light, open horizons and a slower pace, it encourages a way of living where time is measured less by the clock and more by the moments that matter. It is this philosophy that inspired :eden coast.

With the unveiling of :eden coast, bbf: introduces an exceptional collection of beachfront villas in Geroskipou, Paphos, where architecture is conceived as a natural extension of its surroundings. Every residence has been designed to honour the coastline, allowing the sea, the light and the changing seasons to become the defining elements of everyday life.

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At :eden coast, luxury reveals itself with quiet confidence so nothing feels excessive. It is expressed in generous space, carefully composed proportions, enduring materials and an effortless relationship between interior and exterior. Expansive glazing welcomes the Mediterranean sky indoors, while private gardens, terraces and pools encourage a life lived as much outside as within.

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Few locations offer such a natural balance between tranquillity and connectivity. Set along a quieter stretch of Paphos’ coastline, :eden coast enjoys the rare privilege of beachfront living away from the crowds, where the landscape remains unspoilt and the rhythm of the Mediterranean shapes every day. Yet the cultural richness of Paphos, its vibrant dining scene, international airport and every modern convenience are all within easy reach, allowing residents to retreat into complete serenity without ever feeling removed from the world around them.

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Beyond the residences, a carefully curated collection of wellness and leisure experiences extends this philosophy. Landscaped gardens, elegant swimming pools, spaces dedicated to movement and wellbeing, and thoughtfully designed communal areas encourage a slower, richer way of living. They are not amenities in the conventional sense; they are an expression of a lifestyle shaped by balance, privacy and quiet sophistication.

“Our ambition was never simply to create beautiful residences. It was to create a place where architecture, landscape and everyday life exist in complete harmony—a place that feels as though it has always belonged to the coastline,”

says Artem Burtsev at bbf:.

In a world that rarely slows down, :eden coast offers something increasingly rare: the freedom to live at a different pace. Here, mornings begin with the sea, nature sets the rhythm of the day, and the energy of Paphos is always within easy reach. It is a place where tranquillity and connectivity exist in perfect balance, allowing residents to experience the Mediterranean not as a destination, but as a way of life.

For more information:
edencoast.cy
+357 26 962 365

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