ByteDance founder Zhang Yiming becomes Asia’s richest person for the first time, according to the Bloomberg Billionaires Index. Bloomberg estimates his net worth at just over $105 billion, surpassing Indian industrialist Gautam Adani, whose fortune is estimated at slightly below that level. The change follows a recent increase in Zhang’s valuation and a decline in Adani-linked wealth in recent months, leaving the top spot swapped between the two.
Several outlets attribute the shift to the rapid rise of wealth tied to artificial intelligence. Bloomberg and other reports say fortunes linked to AI-linked products and investment momentum have outpaced those built around more traditional industrial sectors. They also describe a turnaround for Zhang’s wealth, which has risen from about $13 billion when Bloomberg began tracking him in March 2019, and notes updated valuations this month that added to his fortune.
The reports also place Zhang’s climb in the context of regulatory uncertainty around TikTok in the United States. Bloomberg and others say ByteDance’s resolution of a prolonged US standoff—through an agreement involving Oracle and Silver Lake and a US joint venture—removes a major overhang on valuations. Some outlets add that the Bloomberg index applies a risk discount because ByteDance is privately held, and they note that other wealth trackers may differ.
