TikTok's Founder Becomes Asia's Richest Person – Bloomberg
Zhang Yimin, founder of the Chinese company ByteDance, topped the Bloomberg Billionaires Index ranking of Asia’s richest people for the first time. The 43-year-old businessman’s net worth exceeded $105 billion.
He surpassed Indian businessman Gautam Adani, whose net worth is estimated at $104.8 billion. In September alone, Zhang’s net worth grew by more than $12 billion following an analysis of the latest valuations of ByteDance by investment firms.
Overall, since March 2019, the entrepreneur’s net worth has increased eightfold—from $13 billion. This indicates that the wealth of businesspeople associated with artificial intelligence technologies is rapidly outpacing that of representatives of traditional industries.
Source: Bloomberg.
On September 10, Texas State Judge Cory Liu ruled that TikTok violated the state’s consumer protection law by misleading users regarding content filtering for minors and the operation of the Restricted Mode feature.
TikTok has begun rolling out new tools for the comments section: voice comments, polls, comments with photo carousels, and Live Photos.
