Key facts
- ByteDance co-founder Zhang Yiming is now Asia's second-richest person.
- He has surpassed Mukesh Ambani in wealth.
- His fortune has grown more than sevenfold since March 2019.
Zhang Yiming, the co-founder of ByteDance, the parent company of TikTok, has become the second-richest person in Asia. His wealth has surged dramatically, growing more than sevenfold from $13 billion when Bloomberg first began tracking his net worth in March 2019. This ascent places him ahead of Mukesh Ambani, who previously held the second-richest position in the region. The rise is attributed to ByteDance's valuation and its progress in AI.