Try GOLD - Free
TikTok's founder Zhang has a formula for everything. Can it crack the Supreme Court?
Mint Mumbai
|January 13, 2025
As the court weighs a ban on the video-sharing app in the US, no one has more to lose than Zhang Yiming
Zhang Yiming chose a college by calculating which schools were far from home and had a favorable female-to-male ratio for finding love. He bought his first home by devising a formula to identify Beijing's best community.
And he became China's richest person after creating TikTok, the massively popular app built around an algorithm that predicts the videos people would enjoy based on their previous activity.
But 41-year-old Zhang has no formula to guide him through TikTok's biggest challenge yet.
The Supreme Court heard arguments on Friday over the constitutionality of a national-security law that would effectively ban the app in the U.S. Most justices voiced doubts about TikTok's arguments, viewing the law not as a restriction on free speech but instead as targeting its Chinese ownership.
The showdown threatens to unravel Zhang's biggest accomplishment to date, as well as his greatest desire. Zhang has long said his dream is to run a business that is successful even beyond his native land of 1.4 billion people.
"China's internet users account for only one-fifth of worldwide users," he said at a 2016 conference. He concluded there was only one way for his company to compete with the best: "Going global is a must."
Last year, Zhang became China's richest person, with a net worth of about $49 billion, according to the Hurun Research Institute, which studies Chinese wealth. Much of his fortune comes from his stake in TikTok's Beijing-based parent company, ByteDance, which also operates hit Chinese apps. He is ByteDance's single largest shareholder, with a 21% equity stake, and has majority control over the company through shares with extra voting rights.
Born in 1983, Zhang grew up in China's southeastern province of Fujian. His father ran an electronics factory, and his mother was a nurse.
As a middle-schooler, Zhang once said in an interview, he read newspapers cover to cover.
This story is from the January 13, 2025 edition of Mint Mumbai.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Mumbai
Mint Mumbai
Rural recovery, low base to fuel Q2 GDP
Policy transmission, festival season inventory too aid growth
2 mins
November 26, 2025
Mint Mumbai
1st privately built PSLV near lift-off
India's first privately built polar satellite launch vehicle (PSLV) is expected to have its maiden commercial flight before the end of the financial year, marking a giant leap in the country’s ambition to foster a private space economy.
3 mins
November 26, 2025
Mint Mumbai
Israel to relocate Jews from northeast
Israel’s government has approved a proposal to bring all the remaining 5,800 Jews from India’s northeastern region, commonly referred to as Bnei Menashe, over the next five years.
1 min
November 26, 2025
Mint Mumbai
Export sops for tariff-hit MSMEs by next week
The government plans to announce support measures under the Export Promotion Mission as early as next week for small businesses struggling to absorb 50% US tariffs, according to Union commerce minister Piyush Goyal.
2 mins
November 26, 2025
Mint Mumbai
IndoSpace Core acquires six logistics parks for over $300 mn
IndoSpace Core, a joint venture between the Canada Pension Plan Investment Board, or CPP Investments, and IndoSpace, has acquired six industrial and logistics parks valued at over $300 million.
1 min
November 26, 2025
Mint Mumbai
Businesses mustn't wait for a global climate consensus
This year’s United Nations climate summit in Belém, Brazil, ended last week. Countries made promises on paper and avoided hard decisions. Having gathered nearly 200 nations to chart out climate action, CoP-30 produced a ‘Belém Political Package’ that deferred questions rather than answer them. We should not pretend that this is progress.
3 mins
November 26, 2025
Mint Mumbai
Husk Power aims to raise $400 mn
Husk Power Systems, the world’s biggest solar mini-grid operator, has begun an industry-record capital raise of $400 million as it seeks to grow revenue 10-fold by 2030 and prepare for an initial public offering (IPO).
1 min
November 26, 2025
Mint Mumbai
Don't make AI models but make the most of what exists
Earlier this year, Amazon announced that it was eliminating 4,000 management positions because artificial intelligence (Al) tools had rendered those middle-management roles redundant.
3 mins
November 26, 2025
Mint Mumbai
The Federal Reserve’s tool for calming short-term funding markets is being tested
The Federal Reserve is struggling to persuade some banks to use a lending tool designed to improve the central bank’s control over short-term money markets.
3 mins
November 26, 2025
Mint Mumbai
Wipro to enter pet foods with ‘HappyFur’
Wipro Consumer Care and Lighting, the consumer venture of Wipro Enterprises, is set to enter India’s fast-growing pet food market with a new brand, ‘HappyFur’, said three people aware of the plan.
2 mins
November 26, 2025
Listen
Translate
Change font size

