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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.
According to the latest Bloomberg Billionaires Index, Pony Ma, co-founder of Tencent Holdings, is once again China’s richest person, now with a net worth of more than A$65 billion (US$44.3 billion), placing him 27th globally.
Shares of China's largest bottled water producer Nongfu Spring slumped on Wednesday, a day after the company reported a sharp slowdown in profit growth in the first half of the year.
HONG KONG -- China's online nationalists have found the latest target for their ire: Nongfu Spring, the Hangzhou-based bottled water and soft drinks giant whose founder, Zhong Shanshan, is the country's wealthiest person.