ByteDance founder Zhang Yiming tops the list of China's richest people, according to the Hurun Research Institute, although many of them have seen their net worth plunge over the past year.
The institute, which publishes the annual Hurun China Rich List, found that the total wealth of entrepreneurs on the list this year was US$3 trillion, down 10 per cent from the previous year.
The number of billionaires based on their net worth in U.S. dollars was also down 142, to 753. Hurun tallied 1,185 billionaires since 2021.
"The Hurun China Rich List has shrunk for an unprecedented third year running, as China's economy and stock markets had a difficult year," said Rupert Hoogewerf, chairman and chief researcher of the Hurun report.
ByteDance's Zhang came in No. 1 for the first time this year, with a net worth of $49.3 billion, according to Hurun. ByteDance, which is the parent company of popular short-video platforms Douyin and TikTok, saw its revenue grow to $110 billion last year.
He is also the first individual born in the 1980s to top the Hurun list.
Bottled water magnate Zhong Shanshan fell to second place in 2024 with $47.9 billion, after his brand Nongfu Spring faced backlash in February when consumers accused it of disloyalty to China due to designs of its bottles.
The backlash wiped out billions in market value for Nongfu Spring.
Coming in third is Tencent founder Pony Ma with a net worth of $44.4 billion, as the gaming firm saw its revenues rise.
This year's China Rich List had just 54 new names added to the list, the lowest figure in two decades. New additions include Charlwin Mao and Miranda Qu Fang, the founders of Xiaohongshu, a social media and lifestyle platform popular with young users.
China's economy has lagged in the aftermath of the COVID-19 pandemic as the country grapples with a real estate crisis and a volatile stock market. Policymakers are expected to unveil major stimulus measures to encourage consumption and spending, which have declined in recent months.
Canadians will soon receive a temporary tax break on several items, along with a one-time $250 rebate, Prime Minister Justin Trudeau announced Thursday.
A mother shares with CTVNews.ca her family's health scare as medical experts say cases of the disease and other respiratory illnesses have surged, filling up emergency departments nationwide.
U.S. president-elect Donald Trump on Thursday named Pam Bondi, the former attorney general of Florida, to be U.S. attorney general just hours after his other choice, Matt Gaetz, withdrew his name from consideration.
Russian President Vladimir Putin announced Thursday that Moscow has tested a new intermediate-range missile in a strike on Ukraine, and he warned that it could use the weapon against countries that have allowed Kyiv to use their missiles to strike Russia.
Approximately 85,000 new passports are being held back by Service Canada, which stopped mailing them out a week before the nationwide Canada Post strike.
Taylor Swift is officially back in Toronto for round two. The popstar princess's motorcade was seen driving along the Gardiner Expressway on Thursday afternoon, making its way to the downtown core ahead of night four of ‘The Eras Tour’ at the Rogers Centre.
Canadians won’t have to pay GST on a selection of items this holiday season, the prime minister vowed on Thursday.
Manitoba RCMP have issued a Canada-wide arrest warrant for the semi-driver involved in a crash that killed an eight-year-old girl and her mother.
The mother of an infant who died after being found at an apartment building in midtown Toronto on Wednesday has been charged with failing to provide the necessaries of life.
Nova Scotia’s top three political party leaders took part in CTV Atlantic’s roundtable discussion on Thursday, where they sparred over affordability, housing, health care, and campaign promises.
Approximately 85,000 new passports are being held back by Service Canada, which stopped mailing them out a week before the nationwide Canada Post strike.
Humans weren’t the only ones who struggled through the bomb cyclone that formed off the B.C. coast this week, bringing intense winds and choppy seas.
Calgary police are seeking information in relation to a Tuesday fire in Hillhurst they believe was deliberately set and notes left in the area demanding Bitcoin.
An investigation into how the Canadian Coast Guard responded to a Nova Scotia vessel in distress two years ago raises questions about why one fisherman died after a towing operation went awry.
Uncertainty is a key theme this year at the annual, three-day gathering in Halifax of political leaders, defence officials and policy analysts who aim to promote democratic values around the globe.
A recent lawsuit alleges Linda McMahon, who U.S. President-elect Donald Trump tapped to lead the Department of Education, knowingly enabled the sexual exploitation of children by a World Wrestling Entertainment (WWE) employee as early as the 1980s — allegations she denies.
Brazil's federal police said Thursday they indicted former President Jair Bolsonaro and 36 other people on charges of attempting a coup to keep him in office after his electoral defeat in the 2022 elections.
More than 60 years after President John F. Kennedy was assassinated, conspiracy theories still swirl and any new glimpse into the fateful day of Nov. 22, 1963, in Dallas continues to fascinate.
The son of Norway's crown princess will be jailed for up to one week while police investigate accusations of rape made against him, a judge ruled on Wednesday.
A woman told police that she was sexually assaulted in 2017 by Pete Hegseth after he took her phone, blocked the door to a California hotel room and refused to let her leave, according to a detailed investigative report made public late Wednesday.
The US government formally proposed a partial breakup of Google on Wednesday, urging a federal judge to force a sale of the company’s Chrome web browser after a landmark ruling this year found that Google had violated US antitrust law with its search business.
Canada's consul general in New York doubled-down Thursday on his past claim that he exerted no influence on the decision of Global Affairs Canada to buy a $9 million condo in Manhattan.
Prime Minister Justin Trudeau said Canada will 'abide' by an International Criminal Court (ICC) arrest warrant for Israeli Prime Minister Benjamin Netanyahu.
Canadians will soon receive a temporary tax break on several items, along with a one-time $250 rebate, Prime Minister Justin Trudeau announced Thursday.
A mother shares with CTVNews.ca her family's health scare as medical experts say cases of the disease and other respiratory illnesses have surged, filling up emergency departments nationwide.
What kind of exercise is best during chilly weather? How can people safely and enjoyably participate in physical activity outdoors when it’s cold out?
A Dallas anesthesiologist was sentenced Wednesday to 190 years in prison for injecting a nerve-blocking agent and other drugs into bags of intravenous fluid at a surgical center where he worked, leading to the death of a coworker and causing cardiac emergencies for several patients.
The Canadian Space Agency (CSA) is inviting Canadians to choose the name of the first Canadian Lunar Rover.
Astronomers have captured the first close-up image of a star beyond our galaxy, taken during a dramatic moment near the end of the star’s life. In it, the 'behemoth' star appears to puff out gas and dust, a critical final step before exploding in a supernova.
A rare kind of fruit fly has been caught by U.S. Customs and Border Protection (CBP) agriculture specialists at Detroit Metro Airport.
Pamela Hayden, the longtime voice actor behind Milhouse Van Houten — Bart Simpson's very uncool friend — is stepping away after 35 years of whining.
Everybody who lived in Edmonton in the 1980s knew it was famous for two things: the mall and the Oilers.
A musical gem was recently uncovered from the vaults of the Luther Vandross Estate — a soulful, never-before-heard rendition of The Beatles' song 'Michelle.'
FunGuyz, which calls itself the biggest magic mushroom dispensary in Canada, says it's shutting down all 30 of its Ontario locations.
A temporary pause on charging the federal sales tax on many items has retailers excited, even though they say preparing for the relief will mean a lot of extra work in a short period of time.
Irving Tissue said it needs to expand in Macon because the mill is currently selling all the bath tissue and paper towels it can make
The world's tallest woman and the world’s shortest woman have met for afternoon tea in London to celebrate Guinness World Records Day.
Sandra Kroek and her grandson Remington spent 200 hours painting a massive Star Wars mural together.
CTVNews.ca wants to hear from digital nomads who have taken up location-independent jobs and can work from anywhere with an internet connection.
Alex Ovechkin has a broken left fibula and is expected to be out four to six weeks, an injury that pauses the Washington Capitals superstar captain’s pursuit of Wayne Gretzky’s NHL career goals record.
Sea Bears centre Chad Posthumus has died at age 33.
After recent burglaries at homes of professional athletes, the NFL has issued a security bulletin to teams and the players union warning that “organized and skilled groups” are increasingly targeting players’ residences for such crimes.
Northvolt AB has filed for bankruptcy protection in the United States, but said the move will not jeopardize the manufacturer's planned electric vehicle battery plant in Quebec — though hundreds of millions of taxpayer dollars invested in the parent company could be lost.
Canadian drivers are regularly in a hurry to get to their destination and a majority are willing to take unnecessary risks on the road, according to the results of a new survey.
A man from B.C.’s Lower Mainland who was scammed while selling his Porsche Cayenne online is sharing his cautionary tale – while calling for increased protections from the government.
After driving near the water that winter day, Brian Lavery thought he saw a dog splashing in the waves – then realized it was way too cold for that.
Toronto radio and podcast host Jax Irwin has recently gone viral for videos of her cute -- and at times confusing -- phone conversations.
Two young women from New Brunswick have won one of the most prestigious and sought-after academic honours in the world.
Stretching 3,000 kilometres from the tip of New Zealand to its southernmost point, with just a bicycle for transport and a tent to call home, bikepacking event Tour Aotearoa is not for the faint of heart.
When he first moved to his urban neighbourhood, Barry Devonald was surprised to be welcomed by a whole flock of new neighbours.
When George Arcioni began renovating his kitchen last summer, he didn’t expect to find a stack of letters hidden in the wall behind his oven.
A Nova Scotia couple fulfilled their wildest dreams Thursday night when they got engaged at Taylor Swift’s Eras Tour in Toronto.
Some Calgary residents caught what appeared to be a meteor streaking across the sky early on Wednesday morning.
Four years ago, Phill Hebb started up 'Phil’s Unique Birdhouses' and since then, they’ve made their way all across Canada and into the United States.
A man who drove a car into B.C.'s Burrard Inlet in a livestreamed social media stunt has been sentenced to one year of probation and will not have a criminal record if he complies with court-ordered conditions.
Humans weren’t the only ones who struggled through the bomb cyclone that formed off the B.C. coast this week, bringing intense winds and choppy seas.
Authorities are investigating after a man was reportedly stabbed by a stranger in Surrey's Newton area this week.
Taylor Swift is officially back in Toronto for round two. The popstar princess's motorcade was seen driving along the Gardiner Expressway on Thursday afternoon, making its way to the downtown core ahead of night four of ‘The Eras Tour’ at the Rogers Centre.
Two people have been arrested and another suspect remains at large in connection with a fatal shooting in Brampton earlier this month.
The mother of an infant who died after being found at an apartment building in midtown Toronto on Wednesday has been charged with failing to provide the necessaries of life.
Calgary Fire Department is responding to an explosion at a six-plex in the city's southeast.
Calgary police are seeking information in relation to a Tuesday fire in Hillhurst they believe was deliberately set and notes left in the area demanding Bitcoin.
Calgary police are looking for dash-cam footage as they investigate a shooting in the community of Cityscape believed to be the result of road rage.
The student union at the University of Ottawa says it will consider pulling its participation from the U-Pass, which provides discounted transit fares for students, if the city goes forward with hiking student transit fees and violating the program’s contract.
A former Ottawa police officer returned to the witness stand on Monday and provided further details of the moments before the violent and deadly arrest of Abdirahman Abdi on the fourth day of a coroner's inquest into the circumstances of his death.
Two people have been arrested following a protest outside Stornoway, the official residence of Canada's leader of the Opposition.
The lobby of Concordia University’s Hall Building was flooded with pro-Palestinian protesters Thursday as others gathered and chanted outside the campus as part of Quebec-wide solidarity strikes.
There was a mixed reaction to the Quebec government's fall fiscal update on Thursday as the province announced billions of dollars in new spending.
The Shield of Athena is fundraising to expand services after a sharp increase in demand from abuse victims.
The Alberta government is making changes to auto insurance, including rate hikes and switching to a predominantly no-fault claims model.
Alberta is forecasting a $4.6-billion surplus for this fiscal year, but Finance Minister Nate Horner says "mounting pressures" threaten to soon put the province in the red.
The wildfire season may have officially ended on Oct. 31, but Alberta Wildfire is already preparing for next year.
Canadians will soon receive a temporary tax break on several items, along with a one-time $250 rebate, Prime Minister Justin Trudeau announced Thursday.
A high school on Prince Edward Island is removing pictures of its late students from a memorial wall – a decision that has upset one mother whose daughter attended the school.
A 36-year-old Fredericton man is facing several charges, including forcible confinement, after police say five people were taken hostage in the city.
Sio Silica is planning to try again with a controversial mining project in the same spot using the same method that the province rejected less than a year ago, but this time with more community engagement.
Manitoba RCMP have issued a Canada-wide arrest warrant for the semi-driver involved in a crash that killed an eight-year-old girl and her mother.
The Manitoba premier is set to face off against Winnipeg's mayor on Nov. 30 to mark Winnipeg's 150th anniversary.
Evraz North America says an investigation is underway after a contractor was fatally injured while on the job in Regina on Nov. 19.
The Regina Pats have announced a blockbuster trade Thursday that sees captain Tanner Howe on his way to Calgary to play for the Hitmen as the team continues rebuilding for the future.
The Grey Cup Champion has officially been crowned for the 2024 season and once again it did not go to the Saskatchewan Roughriders. On Thursday, General Manager, Jeremy O'Day, spoke to media to break down another year.
FunGuyz, which calls itself the biggest magic mushroom dispensary in Canada, says it's shutting down all 30 of its Ontario locations.
A crash between an LRT train and car shut down a busy Kitchener street for more than eight hours on Thursday.
A fight between rival outlaw motorcycle gangs has led to multiple arrests, more than a dozen charges and the seizure of 17 firearms.
After being sworn in Wednesday night alongside a mix of new and returning city councillors, Cynthia Block becomes the first female mayor of Saskatoon.
A Saskatchewan tuxedo business says struggles with inflation and operating costs have caused it close stores across the province.
Alberta-based non-profit the Mustard Seed is stepping up to run Saskatoon's Lighthouse.
After years of delays, the province has pulled the plug on an addiction treatment centre in North Bay. A news release from Canadore College on Thursday confirmed the centre won’t be moving forward.
Canadians will soon receive a temporary tax break on several items, along with a one-time $250 rebate, Prime Minister Justin Trudeau announced Thursday.
The City of Elliot Lake said Thursday it has received a $3-million donation from Edward and Suzanne Rogers for the Centennial Arena restoration.
Posthumus played a stint with the London Lightning - hitting the court for 22 games in the 2015-2016 season, averaging 11 points, and 6.5 rebounds.
Police say that on Thursday, November 21 between the hours of 1:30 a.m., and 4:30 a.m. the suspect came and went from a residence on Conway Drive.
A 21-year-old Goderich man is facing more than 20 criminal charges related to sex crimes, and police believe there may be more victims.
Radon is the number one cause of lung cancer in non-smokers in Canada, according to Grey Bruce Public Health Unit.
Staff at the Busby Centre, a nonprofit organization that supports individuals struggling and living on the streets of Barrie, received a surprise donation on Wednesday in the form of Taylor Swift tickets.
With the rise of cryptocurrency investment scams, the OPP have launched ‘Project Atlas’ this week, an initiative to clamp down on investment fraud.
A new report puts Windsor’s housing performance near the bottom of the pack among Canada’s largest 100 cities and towns in a review of construction starts over the last six years.
Windsor police are asking for the public’s help identifying a suspect wanted in connection to an alleged serious assault that happened this past summer.
Approximately 85,000 new passports are being held back by Service Canada, which stopped mailing them out a week before the nationwide Canada Post strike.
Vancouver Island’s major crime unit is investigating the case of a Victoria teenager whose death was initially ruled an accidental overdose, but has since been reclassified by coroners as a homicide.
One person is dead after a fire that destroyed a home in Nanaimo's south end Wednesday morning.
Another fall storm is forecast to bring high winds to B.C.’s South Coast on Friday, Environment Canada says.
Police are appealing for information on a targeted shooting that resulted in the hospitalization of a man in Kamloops.
British Columbia's independent police watchdog has cleared officers of wrongdoing in a crash where three people were killed south of Kamloops in July of last year.
A B.C. woman who stole more than $14,000 in volunteer-raised funds that were supposed to be spent on school supplies and programs – including hot meals for vulnerable kids – won't spend any time in jail.
Agriculture is an industry mainly dominated by men, but around 80 middle school and high school students – all of whom are female – are hoping to change that.
B.C. RCMP say one person was killed in a head-on crash on the Trans-Canada Highway near Salmon Arm on Wednesday.
There’s a new way to give this holiday season.
Sault-based charity Save Our Young Adults, or SOYA, will soon move to a new home -- for good reason.
The City of Elliot Lake said Thursday it has received a $3-million donation from Edward and Suzanne Rogers for the Centennial Arena restoration.
Students in Sault College’s business accounting program have a new learning pathway that will ultimately give them a head start to a career.
A Newfoundland energy company's embrace of data centres is raising doubts about eastern Canadian hopes of harnessing the region's howling winds to supply Germany with power from green hydrogen.
An international group led by a Canadian is in Rome this week to push the Catholic Church to adopt a zero-tolerance policy on abuse by clergy.
A company hoping to build a multi-billion-dollar wind-to-hydrogen project in western Newfoundland is eyeing other options as Canada's plans to supply Europe with green energy have not yet materialized.
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