Zhang Yiming, founder of ByteDance, tops the Hurun China Rich List for the first time with a net worth of $49.3 billion. The total wealth of billionaires in China has decreased by 10% to $3 trillion, with the number of billionaires dropping to 753. The list has shrunk for the third consecutive year due to economic challenges. Other notable figures include Zhong Shanshan and Pony Ma. The list saw only 54 new names, the lowest in two decades.