The Chinese billionaire’s estimated net worth rose more than $12 billion this month after Bloomberg analyzed the latest valuations from investment firms including BlackRock, Fidelity Investments and T. Rowe Price.
The boost put Zhang about $700 million, or 0.7%, ahead of Indian conglomerate Adani Group’s founder Gautam Adani on the Bloomberg Billionaires Index.
Adani, whose conglomerate has interests in various sectors including ports, airports, energy and transmission, has seen a decline in net worth in recent months as a rebalancing of stocks in the MSCI index weighed on shares across his empire and a broader equity selloff further compounded the losses.
The Indian tycoon’s wealth had climbed to as high as $120 billion in June.
Since debuting on the index in 2019 with a net worth of $13 billion, Zhang’s fortune has surged more than $90 billion, including a $40 billion gain so far this year.
Legal filings in 2024 indicated he owns 21% of ByteDance, which he started in 2012 from a modest four-bedroom apartment in Beijing.
ByteDance initially made its name with the news aggregator Toutiao before expanding into short-form video with Douyin, which was later rolled out internationally as TikTok.
The company has since grown into a major internet business with operations spanning e-commerce, education, gaming and news.
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Zhang Yiming, founder of tech company Bytedance, attends a meeting in Fuzhou, southeast China’s Fujian Province, June 18, 2016. Photo by Reuters |
ByteDance posted a net profit of $42 billion on global revenue of $200 billion for 2025, up 27% and 29% year-on-year, respectively, according to the Global Times.
Zhang’s latest rise underscores how the artificial intelligence boom is creating fortunes that challenge those of established billionaires.
ByteDance has several AI products, including the Doubao AI chatbot and video-generation tool Seedance. It has been stepping up investment in the field to keep pace with competitors.
A group of global banks earlier this month agreed to provide the firm with a $29.6 billion loan for general corporate purposes, including funding its AI research and development, The Wall Street Journal reported, citing people familiar with the matter.
One of the company’s latest AI developments was the completion of a $290 million fundraising round for Anew Labs, its spun-off AI drugmaking unit, on Wednesday.
The unit, which uses AI for drug discovery, was valued at $1.5 billion following its first external fundraising. ByteDance will retain a 56% stake in the firm after the fundraising, Reuters reported Wednesday, citing people with knowledge of the matter.