Zhang Yiming Surpasses Mukesh Ambani

Zhang Yiming, co-founder of ByteDance, has surpassed Mukesh Ambani to become Asia's second-richest person, with a net worth of $92.8 billion. This significant increase is primarily attributed to the surging valuation of ByteDance, driven by the global success of its video app ByteDance — TikTok Shop and the rapid growth of its AI chatbot, Doubao, which boasts over 300 million monthly users in China. Investor confidence in ByteDance improved after the transfer of parts of ByteDance — TikTok Shop's US operations to a consortium including Oracle Corporation, Silver Lake, and MGX, which resolved years of regulatory uncertainty. ByteDance is also making substantial investments in artificial intelligence, planning to spend up to $70 billion in 2026 to enhance its AI capabilities and compete with leading US players. This investment is expected to be funded by the company's strong profits, which reached approximately $50 billion in 2025. While Zhang Yiming's wealth soared, Mukesh Ambani's net worth of $86.9 billion placed him third in Asia, behind Gautam Adani, who remains the richest with $117.4 billion.