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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.

Europe’s Greenest Cities Are About To Be Named. Here’s What The Finalists Reveal About Urban Climate Strategy

Eight European cities will learn next week whether years of investment in cleaner air, stronger climate resilience and more room for nature are enough to earn one of the European Union’s most prestigious environmental honours.

The Race For Europe’s Top Green City Titles

The European Commission’s annual European Green Capital and European Green Leaf Awards recognise cities that are delivering measurable environmental progress while improving everyday life for residents. The winners will be announced on 8 October in Guimarães, Portugal, the 2026 European Green Capital.

That advance selection matters. Cities are named more than a year ahead of their title year, giving them time to develop projects, organise public programmes and turn recognition into action.

Who Made The Shortlist

Five cities are competing for the Green Capital title: Aalborg in Denmark, Bielsko-Biała in Poland, Košice in Slovakia, Porto in Portugal and Zaragoza in Spain.

Three smaller cities have been shortlisted for the Green Leaf awards: Benidorm and Chiclana de la Frontera in Spain, and Estarreja in Portugal.

How The Awards Are Judged

The Green Capital Award was created to reward cities making measurable progress on environmental challenges while raising quality of life. It is open to cities with more than 100,000 residents. Cities with populations between 20,000 and 100,000 compete for the Green Leaf title.

An independent expert panel assesses applicants across seven areas, including air quality, water quality, biodiversity, green space, waste management, noise, emissions reduction and climate resilience. The jury also looks at how well cities are preparing for risks such as extreme heat and flooding.

What The Finalists Show About Urban Sustainability

Each finalist brings a distinct model of urban environmental policy.

Zaragoza stands out for biodiversity and green space. The Spanish city is linking parks, riverbanks, wetlands, street trees and surrounding natural areas into a connected network designed to support wildlife movement and reduce flood risk.

Porto has been recognised for its water management and adaptation planning. Over the past decade, the city has restored sections of the Rio Tinto riverbed and banks, created parks that absorb stormwater during heavy rainfall and begun reusing treated wastewater for agricultural irrigation and street cleaning.

Benidorm offers a different lesson: even dense urban areas can expand access to nature. Since 2012, the coastal city has increased its public gardens from 350,000 square metres to more than 1.5 million square metres and nearly quadrupled its tree cover. Today, 92% of residents live within 300 metres of a public green space.

Why Cities Are Reclaiming Space For Nature

The EU awards reflect a broader shift already underway across Europe. As summers grow hotter and weather patterns become less predictable, city leaders are rethinking the way urban space is designed and used. Trees, parks and water are no longer treated as decorative features; they are increasingly seen as core infrastructure for resilience.

In Barcelona, some streets have been closed to through traffic and converted into parks and pedestrian zones. In Milan, the Bosco Verticale has become a high-profile example of how cities can introduce substantial greenery even where land is scarce, with more than 21,000 trees and shrubs placed across two residential towers.

In Breda, the Netherlands, civic participation has driven a broader transformation. Concrete tiles have been replaced with grass, flowers and trees, while homes and schools have added rooftop gardens. Today, 60% of the city is green space, helping Breda become the EU’s first National Park City in 2025.

Beyond Landscaping: A Test Of Citywide Change

The Green Cities Awards are not simply about planting more trees or adding greenery to public buildings. They reward cities that are embedding environmental thinking into transport, water, waste, public space and long-term planning.

Heilbronn, Germany, which won the 2027 Green Capital title, was recognised not just for its clean air and water, but also for noise reduction, waste reduction and a broader commitment to climate action.

When the jury meets next week, it will be judging more than individual projects. It will be assessing how far these eight cities have turned environmental ambition into citywide systems change.

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