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TikTok turns on the money machine

The most downloaded app of 2021, TikTok has surged to a billion-plus global users, who consume an infinite feed of short clips delivered instantly by algorithm. While the platform has long helped creators step to the center of the attention economy, the company is only now starting to cash in on all that popularity.

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Bottled-water tycoon is China s richest man with $81 6b fortune

HONG KONG - Bottled water, vaccine development, short video platform TikTok and electric vehicle technology propelled the big earners on China’s rich list this year, as embattled property moguls and others facing regulatory scrutiny slipped down the rankings. Zhong Shanshan was No. 1 on the Hurun China Rich List 2021 published on Wednesday, with personal wealth of $60.6 billion (S$81.6.

Hui ka yanYang huiyanLuo liguoZhang bangxinJack maZhong shanshanBytedance zhangTencent maZeng yuqunWang wenxueZhang yimingRupert hoogewerfAnt groupHoshine silicon industry coTencent holdings pony maEducation group

Bottled water, vaccines and electric vehicles propel China s biggest earners

Bottled water, vaccine development, short video platform TikTok and electric vehicle technology propelled the big earners on China's rich list this year, as embattled property moguls and others facing regulatory scrutiny slipped down the rankings.

Hui ka yanYang huiyanLuo liguoZhang bangxinJack maZhong shanshanBytedance zhangTencent maZeng yuqunJane wardellWang wenxueZhang yimingRupert hoogewerfThomson reuters trust principlesHoshine silicon industry coEducation group

Forbes China names Alibaba founder Jack Ma country s most generous entrepreneur in 2020, as tech giants top charity list

Forbes China names Alibaba founder Jack Ma country s most generous entrepreneur in 2020, as tech giants top charity list
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ByteDance shelved IPO intentions after Chinese regulators warned about data security

Check out what s clicking on FoxBusiness.com. ByteDance Ltd., the Chinese owner of popular short-video app TikTok, put on hold indefinitely its intentions to list offshore earlier this year after government officials told the company to focus on addressing data-security risks, people familiar with the matter said. The Beijing-based social-media giant, last valued at $180 billion in a funding round in December, had been weighing an initial public offering of all or some of its businesses in the U.S. or Hong Kong, according to people familiar with the company’s plans. But the company’s founder, Zhang Yiming, decided it would be wiser to put the plans on ice in late March, after meetings with cyberspace and securities regulators in which they asked the company to focus on addressing data-security risks and other issues, the people familiar with the matter said.

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