China is second only to the United States, which is home to 23 such billionaires on the list.
Zhang Yiming, the founder of TikTok's parent company ByteDance, ranks second with a wealth of 250 billion yuan , after Meta CEO Mark Zuckerberg.
The three co-founders of miHoYo, the Shanghai-based developer of the globally acclaimed game Genshin Impact, are among the 14 newcomers this year, the research institute said. The most successful entrepreneurs under 40 made their first billion US dollars within an average of six years, according to the institute. - Xinhua
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