Beijing (Web Desk): Zhang Yiming, the founder of TikTok’s parent company ByteDance, has overtaken India’s billionaire businessman Mukesh Ambani to become the second-richest person in Asia.
According to a Bloomberg report, the surge in Zhang Yiming’s wealth was driven by a rise in ByteDance’s share value and strong growth in the company’s artificial intelligence (AI) business.
The report said his net worth jumped significantly within a single day, placing him ahead of Mukesh Ambani in Asia’s rich list.
Meanwhile, Mukesh Ambani’s wealth has seen a decline this year, pushing him down in the regional rankings.
The development highlights the rapid expansion of ByteDance, which continues to grow globally through platforms such as TikTok and its expanding AI-driven products.