Zhang Yiming, the founder of ByteDance, the parent company of TikTok, has earned the title of the richest person in Asia with a fortune of $105.5 billion. According to Bloomberg data, the Chinese entrepreneur has surpassed Indian businessman Gautam Adani, who has a net worth of $104.8 billion.
“Elchi” reports that Zhang, who owns approximately 21% of the company, saw his wealth increase by $12 billion this month alone following new valuations conducted by BlackRock and Fidelity.
When Bloomberg began tracking his wealth in 2019, Zhang had a net worth of $13 billion; he has increased his assets nearly eightfold over the last seven years.
Investments in artificial intelligence drove growth
It is reported that ByteDance is improving its artificial intelligence models by using data obtained from its popular platforms such as TikTok and Douyin, achieving significant progress in the technology sector.
Despite facing regulatory hurdles and a crisis regarding potential entry bans in the US, the company has continued to invest in artificial intelligence.
Lian Jye Su, a leading analyst at the research firm Omdia, stated that Zhang has taken the right steps and decisively increased investments in artificial intelligence.
Artificial intelligence multiplies wealth
Advances in artificial intelligence technology are rapidly changing the global billionaire list. Dell Technologies founder Michael Dell has become the fifth richest person in the world, reaching a fortune of $262 billion thanks to revenues from AI-focused servers. At the same time, Google co-founder Larry Page reached a net worth of $252 billion after the announcement of the Gemini 3 artificial intelligence model, surpassing Jeff Bezos last year.
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