Zhang Yiming, founder of ByteDance. [Reuters/Yonhap]
Zhang Yiming, founder of ByteDance. [Reuters/Yonhap]

Zhang Yiming, the 43-year-old founder of ByteDance, has topped the rankings of Asia's wealthiest individuals. ByteDance is the company behind the short-form video app TikTok, and Zhang's fortune has surpassed $106 billion.

According to the Bloomberg Billionaires Index, Zhang's net worth stood at $105.5 billion as of Sept. 16, placing him first on the list. The index data was published Friday (local time).

When Bloomberg first tracked Zhang's wealth in 2019, it stood at $13 billion — meaning his fortune has grown more than eightfold in roughly seven years. This year alone, his wealth increased by $40.3 billion.

Zhang was born in Longyan, Fujian Province, and studied software engineering at Nankai University. After working as a developer, he co-founded ByteDance in 2012 with his college roommate Liang Rubo.

ByteDance launched Douyin, the Chinese version of TikTok, in 2016. Overseas, TikTok gained popularity by tapping into the habits of Generation Z (born 1997–2011), who gravitate toward short-form content.

Zhang stepped down as CEO in 2021 at the age of 38, but remains active behind the scenes in a reclusive role, working on what comes after TikTok.

Meanwhile, Zhang's rise to the top of Asia's wealth rankings pushed Indian billionaires Gautam Adani, chairman of the Adani Group, and Mukesh Ambani, chairman of Reliance Group, to second and third place, with fortunes of $104.8 billion and $81.3 billion, respectively.


yeonjoo7@heraldcorp.com