TikTok founder Zhang Yiming has overtaken Indian billionaire Gautam Adani to become the richest person in Asia for the first time, according to the Bloomberg Billionaires Index. The ByteDance founder’s fortune has increased by around $12 billion this month, reaching more than $105 billion. His wealth has grown more than eightfold since March 2019, when Bloomberg began tracking his assets.
Analysts say that artificial intelligence could become one of the biggest growth opportunities for ByteDance following the global success of TikTok. According to Lian Jie Su, chief analyst at research firm Omdia, the company could benefit from developing new AI-powered products and services. The third richest person in Asia is another Indian billionaire, Mukesh Ambani, whose estimated fortune stands at $81.3 billion.
His business empire includes Reliance Industries, one of India’s largest and most valuable companies. Meanwhile, American businessman Elon Musk remains at the top of the global billionaire ranking. According to the Bloomberg Billionaires Index, his net worth is estimated at around $892 billion.
Zhang Yiming’s rise is particularly notable because he stepped down as ByteDance’s CEO in 2021 and has largely stayed away from the public spotlight. Despite this, the continued growth of ByteDance has significantly increased the value of his stake in the company. Here we are to serve you with news right now.
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