Zhang Yiming is a Chinese internet entrepreneur. He founded ByteDance in 2012, developed the news aggregator Toutiao and the video sharing platform Douyin. As of March 2024, Zhang's personal wealth was estimated at US$40.2 billion, according to Bloomberg Billionaires Index, making him the second-richest person in China, after Zhong Shanshan. On November 4, 2021, Zhang stepped down as CEO of ByteDance, completing a leadership handover announced in May 2021. According to Reuters, Zhang maintains over 50 percent of ByteDance's voting rights.