TikTok Founder Zhang Yiming Becomes Asia's Second Richest Person
Chinese tech entrepreneur Zhang Yiming, co-founder of ByteDance and owner of TikTok, has become Asia's second-richest person, overtaking Indian billionaire Mukesh Ambani after a sharp rise in ByteDance's valuation. The latest wealth rankings highlight the growing influence of technology and artificial intelligence alongside traditional sectors such as infrastructure, energy and telecommunications in shaping Asia's richest individuals.
Chinese entrepreneur Zhang Yiming, the co-founder of ByteDance, has become Asia's second-richest person, overtaking Mukesh Ambani in the latest Bloomberg Billionaires Index. The milestone comes after ByteDance's valuation surged on the back of TikTok's global success and rapid growth in the company's artificial intelligence business, particularly its AI chatbot Doubao, strengthening Zhang's fortune to about US$92.8 billion.
The latest rankings place Gautam Adani at the top in Asia with an estimated fortune of around US$117.4 billion, followed by Zhang Yiming, while Mukesh Ambani has slipped to third with about US$86.9 billion. Zhang, who stepped down as ByteDance's chief executive in 2021 and later left day-to-day management, continues to benefit from his ownership stake as the company expands its AI ambitions and remains one of the world's most valuable private technology firms. His rise also reflects how innovation, digital platforms, and artificial intelligence are increasingly driving wealth creation across Asia, alongside traditional industries such as energy, infrastructure, and telecommunications.
Published 17 hours ago in World