Zhang Yiming, the co-founder of ByteDance, has emerged as Asia’s second-richest individual following a substantial increase in the valuation of the technology giant behind TikTok. The wealth surge reflects growing investor confidence in ByteDance’s expanding artificial intelligence ambitions, particularly the rapid adoption of its AI-powered products in China. The development marks a significant shift in Asia’s billionaire rankings, with Zhang moving ahead of Reliance Industries Chairman Mukesh Ambani.