(Yicai) March 27 -- Zhang Yiming, the founder of TikTok's Chinese owner ByteDance, has become the wealthiest person in China after surpassing  Nongfu Spring's founder Zhong Shanshan after the beverage giant's stock price declined, according to several rankings.

The Bloomberg Billionaires Index and Forbes Real Time Billionaires List have Zhang at the top of their China rankings today. According to Bloomberg, his net worth was unchanged from yesterday at USD57.5 billion, while that of Zhong fell by more than USD3.7 billion.

Zhang ranks 24th globally, followed by Tencent Holdings' co-founder and Chief Executive Pony Ma at 25 and Zhong at 26, per Bloomberg.

Shares of Nongfu Spring [HKG: 9633] finished 1.2 percent lower at HKD34.10 (USD4.39) apiece in Hong Kong today. The stock closed down 8.3 percent yesterday.

According to Forbes, Zhang has a net worth of USD65.5 billion, ranking 23rd worldwide. Ma and Zhong come in at 27th and 28th, while PPD Holdings founder Huang Zheng is 32nd and Xiaomi founder Lei Jun 33rd.

On Nov. 6, Forbes announced its 2024 list of China's 100 richest people, with Zhong retaining the crown for the fourth straight year with a personal fortune of USD50.8 billion. Ma ranked second with USD46.8 billion and Zhang third with USD45.6 billion.

Apart from Beijing-based ByteDance, which boasts more than one billion users worldwide through TikTok and its Chinese version Douyin, Zhang has also ventured into e-commerce, education, gaming, news media, and other areas.

Editor: Martin Kadiev