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ByteDance founder Zhang Yiming has overtaken Indian industrialist Gautam Adani to become Asia’s richest person, according to the Bloomberg Billionaires Index.
The fortunes of both billionaires stand at roughly $105 billion, although Zhang currently holds the higher position on the index.
Zhang’s wealth increased by around $12 billion this month after Bloomberg revised its valuation of privately held ByteDance.
The updated assessment incorporated valuation information from BlackRock and Fidelity filings.
Bloomberg reduced the risk discount applied to ByteDance from 25 per cent to 10 per cent following developments towards resolving TikTok’s US operations.
The revised valuation came after the proposed structure involving Oracle and Silver Lake, which has helped ease uncertainty surrounding TikTok’s position in the US market.
ByteDance’s expanding artificial intelligence portfolio has attracted greater investor attention. Its AI offerings include the Doubao chatbot and Seedance video-generation model, strengthening expectations around the company’s technology businesses.
The growing interest in ByteDance’s AI capabilities has contributed to the company’s broader valuation story and, consequently, Zhang’s personal wealth.
Zhang’s rise on the global wealth rankings reflects the rapid expansion of ByteDance since he founded the company. His fortune has increased approximately eightfold since 2019.
The latest jump places him above Adani on the Bloomberg Billionaires Index, although their estimated fortunes remain relatively close.
The development highlights how changes in private-company valuations can significantly alter billionaire wealth rankings, particularly when companies such as ByteDance do not have publicly traded shares.
Zhang’s latest position comes amid continued attention on ByteDance’s global businesses, TikTok’s US future and the company’s growing investments in artificial intelligence.
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