TikTok Billionaire Zhang Yiming Overtakes Mukesh Ambani as Asia’s Second-Richest Person
Bloomberg said his net worth rose $24 billion after ByteDance’s risk discount fell and investors lifted valuations for its AI and social media businesses.
- On Wednesday, ByteDance co-founder Zhang Yiming became Asia's second-richest person with a net worth of $92.8 billion, according to the Bloomberg Billionaires Index, as the company's valuation surged.
- The valuation increase followed completion of ByteDance's US business sale, which allowed the Bloomberg Billionaires Index to reduce its risk discount from 25 per cent to 10 per cent, adding over $24 billion to Zhang's fortune.
- Doubao, ByteDance's AI chatbot, has amassed more than 300 million monthly users, fueling growth alongside TikTok, while Gautam Adani leads Asia at $117.4 billion and Mukesh Ambani ranks third at $86.9 billion.
- ByteDance is now betting heavily on artificial intelligence, discussing expenditures of up to $70 billion this year to lead the Chinese market, funded by approximately $50 billion in 2025 profits.
- After transferring US operations to a consortium led by Oracle, Silver Lake, and MGX, the Beijing-based firm remains a prime candidate for an eventual initial public offering.
19 Articles
19 Articles
TikTok Billionaire Zhang Yiming's Net Worth Soars Past Mukesh Ambani's — See Who Still Leads Asia
Zhang Yiming's personal fortune surged by £17.9 billion ($24 billion) in a single day after a recalculation of his ByteDance stake, vaulting the TikTok co-founder past Mukesh Ambani to become Asia's second-richest person. The Bloomberg Billionaires Index pegged Zhang's net worth at £69.1 billion ($92.8 billion) on 3 June — cementing his position as China's wealthiest individual. The one-day jump came after Bloomberg assessed fresh valuations fro…
Bloomberg Billionaires Index: TikTok founder overtakes Mukesh Ambani to become Asia’s second-richest person; see top 10
Top 10 richest people in Asia: According to the new Bloomberg Billionaires Index, Gautam Adani remains Asia’s wealthiest person with a fortune of $117.4 billion.
The Tiktoker Zhang Yiming, co-founder of the social network, has surpassed Indian mogul Mukesh Ambani, president of Reliance Industries, and has positioned himself as the second richest person in Asia, thanks to the increase in the valuation of ByteDance, parent company of TikTok and Chinese Douyin, and the advances of the Chinese technological giant in artificial intelligence.
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