Zhang Yiming, the founder of TikTok parent company ByteDance, has become the richest person in Asia with an estimated net worth of $105.5 billion. According to Fortune, Zhang overtook Indian businessman Gautam Adani to take the top spot. His wealth has skyrocketed since 2019, when his net worth was $13 billion. Zhang's fortune has grown by $92 billion since 2019, largely due to the success of his company ByteDance and its popular video-sharing app TikTok.
Zhang's rise to wealth is attributed to his early investment in artificial intelligence (AI) technology. He developed ByteDance's AI technology during the US-TikTok standoff, which allowed the company to leverage data from its social media apps to train its AI models. This technology has become one of the business's biggest growth engines, aside from the success of TikTok, which boasts over a billion daily active users. Zhang's management style, modeled on US tech companies like Google, has also contributed to his success.
Zhang was born on April 1, 1983, in Longyan, Fujian, China, to civil servant parents. He graduated from Nankai University in 2005 with a BEng in computer engineering. Zhang began his career as an engineer at the travel website Kuxun, where he met his wife. He later worked at Microsoft but left due to the company's corporate rules. In 2009, Zhang took over Kuxun's real estate search business and started 99fang.com, his first company.
In 2012, Zhang founded ByteDance with Liang Rubo in a four-bedroom apartment. The company launched the Toutiao news app, which attracted over 13 million daily users within two years. Sequoia Capital, which initially rejected Zhang, led a $100 million investment in the company in 2014. Zhang focused on expanding ByteDance globally, unlike other Chinese tech CEOs who focused on domestic growth.
Zhang's success with ByteDance and TikTok has earned him numerous accolades. He was named one of Time magazine's 100 Most Influential People of 2019. In 2018, he was included in Fortune magazine's 40 Under 40 list. Zhang was also named in Forbes' 2013 China 30 Under 30 list. His wealth has made him one of the richest individuals in the world.
Despite regulatory hurdles, Zhang's fortune continues to grow. In September 2026, his net worth increased by $12 billion following new valuations from BlackRock and Fidelity. Zhang owns around 21% of ByteDance, which has become one of the world's most valuable privately held startups. His company has been valued at over $75 billion.
Zhang's rise is an example of how AI is reshaping the billionaire ranks, creating new fortunes and rapidly growing the wealth of some of the world's richest people. Other entrepreneurs, like Michael Dell, have also seen their net worths skyrocket due to the AI boom. Zhang's story serves as a testament to the power of innovative technology and strategic investment.
Key points
- Zhang Yiming's net worth has grown to $105.5 billion, making him the richest person in Asia.
- Zhang's success is attributed to his early investment in AI technology and the success of his company ByteDance and its popular video-sharing app TikTok.
- Zhang's wealth has grown by $92 billion since 2019, largely due to the success of his company and its AI technology.
