TikTok Founder Zhang Yiming Overtakes Gautam Adani To Become Asia’s Richest

ByteDance founder Zhang Yiming, the entrepreneur behind TikTok, has overtaken Indian billionaire Gautam Adani to become Asia’s richest person, according to the Bloomberg Billionaires Index.

Zhang’s net worth stands at around $105.5 billion, putting him slightly ahead of Adani, whose estimated wealth is $104.8 billion. The shift comes after Zhang’s fortune jumped by more than $12 billion this month, driven largely by fresh valuations of privately held ByteDance by major investors.

The latest rise highlights the growing value being placed on ByteDance as it expands beyond social media and advertising into artificial intelligence. The company has been investing heavily in AI products, including Doubao, its chatbot, and Seedance, a tool designed to generate videos using artificial intelligence.

Zhang, who founded ByteDance in 2012, stepped down as the company’s chief executive in 2021 and later gave up his role as chairman. He continues to hold a substantial stake in the company, allowing him to benefit from increases in its valuation.

Adani’s fortune, meanwhile, has declined from earlier highs. His wealth is tied to a sprawling business empire with interests spanning energy, infrastructure, ports, logistics and other sectors. Movements in the share prices of Adani Group companies have a direct impact on his estimated fortune.

The change in the rankings also reflects the growing influence of technology and AI on global wealth creation. Zhang’s fortune is closely linked to a private technology company, while Adani’s wealth is largely connected to listed businesses and traditional infrastructure-heavy industries.

However, billionaire rankings can change quickly. ByteDance is privately held, meaning its valuation depends on transactions and assessments in private markets rather than a continuously traded public share price.

Zhang’s rise to the top of Asia’s wealth rankings therefore marks not just a change in billionaire standings, but also another sign of how rapidly technology and AI are reshaping the global business landscape.