AI push makes ByteDance's Zhang Yiming China's richest with record $99.7B
What's the deal? ByteDance founder Zhang Yiming has reclaimed the title of China's richest person with a record US$99.7 billion, according to the 28th Hurun China Rich List, released October 27. His fortune rose 43%—a gain of US$33.8 billion—driven by the TikTok owner's aggressive expansion into AI.
Why now? AI became the single biggest wealth engine on this year's list, Hurun found. About one in 10 of the 1,529 ranked individuals—160 people—now make their money from AI.
By the numbers: The list counted 1,529 people worth more than US$687.5M as of September 1, up 6.6% and an all-time record. The number of US dollar billionaires rose by 155 to 1,176—176 more than in the US.
Who else rose: DeepSeek founder Liang Wenfeng, 41, was "the sensation of the year," debuting at No 7 with US$41.7 billion. Cambricon Technologies chipmaker Chen Tianshi, also 41, broke into the top 10 with US$30.5 billion, and Unitree Robotics founder Wang Xingxing entered at US$10.3 billion.
The other side: Hurun describes a "two-speed economy." While semiconductors, large models, and robotics boomed, the old economy retreated. "Bottled Water King" Zhong Shanshan slipped to second with US$61 billion, down 23%, and Tencent's Pony Ma dropped to fourth with US$51.5 billion, down 26%.
The signal: The ranking is an estimate, not a disclosed valuation, and much of Zhang's gain reflects investor expectations around his roughly one-fifth stake in a privately held company. Still, with ByteDance's Doubao emerging as China's most-used AI assistant, the list shows how AI is reshaping Chinese tech wealth even as property and consumer sectors stay under pressure.
