Founder of TikTok parent company lost $17 billion in 2022: ranking

This photo taken on April 23, 2018 shows CEO of Bytedance Zhang Yiming speaking during the 1st Digital China Summit in Fuzhou, in China's eastern Fujian province. (AFP file photo)
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Updated 07 April 2023
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Founder of TikTok parent company lost $17 billion in 2022: ranking

  • Despite huge losses, ByteDance founder Zhang Yiming is still the second-richest entrepreneur in the world under age 40, with wealth valued at $37 billion, according to statistics published by the Chinese firm Hurun

BEIJING: Zhang Yiming, the founder of TikTok parent company ByteDance, saw his personal fortune fall by $17 billion last year, according to a new Chinese ranking published Thursday.

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 $37 billion, according to statistics published by the Chinese firm Hurun.

Ahead of him is Mark Zuckerberg, boss of US tech giant Meta — the owner of Facebook and Instagram — whose fortune was estimated by Hurun at $68 billion.
According to the ranking, Zuckerberg also lost money last year to the tune of $8 billion.
Zhang co-founded ByteDance in Beijing in 2012, but resigned from the group in 2021 in the midst of regulatory tightening on China’s tech industry.
A Chinese citizen, Zhang is now based in Singapore.
ByteDance’s success in China’s highly competitive Internet sector has been largely thanks to its popular short video app Douyin.
The app is the most valuable start-up globally, with a market capitalization of $200 billion, according to Hurun.
Its international version, TikTok, is wildly popular with teenagers around the world, but concerns over national security have left its future uncertain in many countries.
Critics say TikTok allows Chinese authorities access to global user data — allegations the firm has vehemently denied.
Still, the US, Canadian, British and Australian governments, as well as the European Commission, have recently banned their officials from installing TikTok on work phones.
And Washington has threatened the app with a total ban, with TikTok boss Shou Zi Chew hauled before a US congressional hearing recently to defend it.
On Tuesday, TikTok was fined 12.7 million pounds ($15.8 billion) by the British digital regulator over its use of the personal data of children.
 


Asharq Business with Bloomberg, Nasdaq to bring real-time US equities data to MENA

Updated 13 January 2026
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Asharq Business with Bloomberg, Nasdaq to bring real-time US equities data to MENA

  • Nasdaq to deliver exclusive real-time US equities market data
  • Real-time updates fully integrated into Asharq Business’ data infrastructure and available across all platforms

RIYADH: Asharq Business with Bloomberg, the region’s leading business and financial news multi-platform channel, announced Tuesday a strategic three-year collaboration with Nasdaq, to deliver exclusive real-time US equities market data and updates to investors and decision-makers across the Middle East. 

Through access to Nasdaq’s official data product, Nasdaq Last Sale (NLS), Asharq Business with Bloomberg will receive real-time last-sale trade updates and calculated insights across major US exchanges directly from the Nasdaq Market Center. The collaboration strengthens market transparency, enhances data-driven storytelling, and provides audiences and partners with deeper insight into global financial activity. 

With a rapidly growing investor base in the region — and with Nasdaq serving as a primary destination for many Arab and regional investors — Asharq Business with Bloomberg reinforces its mission to deliver timely, accurate, and exclusive financial updates by integrating NLS data into its digital platforms, live markets coverage, and broader data ecosystem. 

Leveraging its partnership with Bloomberg Media — which grants access to reporting from over 2,700 journalists and analysts worldwide — Asharq Business with Bloomberg continues to build on its reputation as the region’s most trusted and credible multi-platform business news source. The collaboration with Nasdaq underscores its commitment to providing reliable, data-backed content across social, digital, and streaming platforms, available for audiences anytime and anywhere. 

Dr Nabeel Al Khatib, General Manager of Asharq News Network, commented: “It has been five years since the inception of Asharq Business with Bloomberg, and our audience has always been at the center of everything we do. We invest time and effort to understand what matters to them, ensuring we deliver data and stories that genuinely support informed decision-making. With growing regional interest in global markets, our collaboration with Nasdaq marks a strategic step toward offering a clearer, more comprehensive view of international financial activity. Through Nasdaq Last Sale, we aim to further empower our audience with transparent, real-time insights, strengthening their ability to navigate an increasingly interconnected global investment landscape.” 

The Nasdaq leadership team added: “We are pleased to collaborate with Asharq Business with Bloomberg to broaden access to high-quality US market data in the Middle East. Through Nasdaq Last Sale, we aim to enhance transparency, support informed decision-making, and contribute to a more connected global investor community.”