TikTok founder overtakes Ambani as Asia's second richest
TikTok founder Zhang Yiming has surpassed ByteDance to become the second-richest person in Asia with a fortune estimated at around $92.8 billion. His wealth growth has been driven by the company's rising value and expansion into artificial intelligence, particularly through TikTok and the "Dou Bao" app. This success is attributed to the company's strong performance in both the global and Chinese markets, along with the transfer of some of its U.S. operations to investors, which has helped improve its valuation and reduce regulatory pressures. ByteDance is planning to increase its investments in artificial intelligence, with expenditure plans reaching up to $70 billion this year.
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