AI Surge Drives Zhang Yiming Back to Top of China Wealth Rankings

ByteDance founder Zhang Yiming has regained his position as China’s wealthiest individual.

Zhang’s net worth reached $100 billion, a 43% increase from the previous year. The jump was largely attributable to his company’s expansion into artificial intelligence. Rupert Hoogewerf, chairman of the Hurun Report, stated that almost all of the gain came from AI. ByteDance operates Douyin and TikTok, and its AI assistant, Doubao, is currently the most used in China.

The Hurun Research Institute released the rankings on Tuesday. It identified a record 1,529 individuals with assets exceeding 5 billion yuan, or about $750 million. This figure represents a 6.6% increase from last year. In dollar terms, 1,176 people qualified as billionaires. That is 176 more than the United States but slightly fewer than the 1,185 recorded in 2021.

AI is the primary driver of wealth growth in this cycle. Hoogewerf noted that 160 people on the list, or one in ten, now earn their money from AI. This includes Liang Wenfeng, founder of DeepSeek, who entered the list at seventh place. Chen Tianshi, chair of AI chipmaker Cambricon, ranked tenth. The institute verified data with entrepreneurs and regulators while acknowledging some limitations in the process.

Gains were uneven across industries. Zhong Shanshan, the bottled water magnate, fell to second place with a net worth of $61 billion, down 23%. Robin Zeng, chairman of CATL, the world’s largest electric vehicle battery maker, took the third spot. Conversely, Lei Jun, chairman of Xiaomi, saw his wealth halve to $25.1 billion. Hoogewerf called him the biggest faller on the list.

The report describes a two-speed economy. Wealth surged for entrepreneurs in AI, semiconductors, and robotics. Meanwhile, fortunes in consumer goods, real estate, and traditional manufacturing shrank. For the first time, no mainland property developer remains in the top 100. The only property names left at the top are Hong Kong landlord families.

China’s economy grew 4.5% in the July to September quarter, fueled by exports. This pace brings the country closer to its annual growth target of 4.5% to 5%. While government support boosts high-tech sectors, small business owners report tougher conditions as consumer spending cools. The domestic property market continues to weigh on demand.