According to data from the Bloomberg Billionaires Index on April 14, according to Bytedance’s current valuation of $250 billion, Zhang Yiming, the 38-year-old founder who owns a quarter of Bytedance’s equity, is worth Will exceed the scale of 60 billion US dollars.
This also means that Zhang Yiming can actually enter the 2021 Forbes list of the top 20 richest people in the world, with Tencent’s Ma Huateng, Nongfu Spring’s Zhong Suisuan and the Walton family of Wal-Mart in the United States.
In the 2021 Forbes Global Rich List, US$60 billion is undoubtedly the ticket to enter the TOP20
ByteDance, known for its short video application Douyin and Toutiao, a news aggregation platform, has continued to expand from its core advertising business to e-commerce, online travel, online education and other fields in recent years.
According to people familiar with the matter, this expansion strategy has allowed ByteDance to more than double its revenue in 2020 year-on-year to about 35 billion U.S. dollars, and its operating profit has increased to 7 billion U.S. dollars.
At the same time, because TikTok, the overseas version of TikTok, is facing censorship in the United States and India, Zhang Yiming put more energy on Bytedance’s just-started and fast-growing Chinese business, including games, education, and e-commerce.
There are also many media reports that with the growth of the business scale, the Bytedance Flag is bound to face greater competitive pressure. In this context, Bytedance has begun to consider pushing some of its businesses into the securities exchange market for public offerings. (ipo ).
In March of this year, ByteDance hired former Xiaomi executive Zhou Shouzi as its chief financial officer. In the eyes of the outside world, this “heritor” who helped Xiaomi’s listing will also play a vital role in the final listing of Bytedance.
In February 2021, ByteDance’s direct competitor Kuaishou landed on the Hong Kong stock market and raised US$5.4 billion, becoming the largest listed Internet company after Uber Technology. The competitor’s outstanding achievements have also allowed the capital market to constantly focus on the possible future IPOs of Bytedance.
On the other hand, Ma Rui, a partner of Synaptic Ventures, a venture capital firm, said that Zhang Yiming hopes to establish a long-term and lasting global enterprise, and short-term setbacks in the company’s business will not shake his determination.
According to data from the American research organization CB Insights, in addition to the current market rumored 250 billion US dollars, Bytedance was valued at 180 billion US dollars in the latest round of financing in December last year, compared with only 200 billion US dollars three years ago. Billion US dollars, which reflects the high growth of Bytedance’s valuation.
According to media reports, the valuation of Bytedance is still growing, which for Zhang Yiming undoubtedly represents a greater scale of wealth.
Source: Zeng Xiantian, ZAKER News
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