ByteDance's Zhang Yiming Retakes China's Rich List at $100 Billion on AI
The Hurun ranking shows a two-speed economy, with AI and chip fortunes surging while real estate and consumer wealth shrinks.
Zhang Yiming, the founder of ByteDance, has regained the top spot on China's list of richest people, powered by his company's push into artificial intelligence, according to rankings published Tuesday by the Hurun Research Institute. Zhang's net worth stands at $100 billion, up 43% from a year earlier.
Rupert Hoogewerf, chairman of the Hurun Report, said nearly all of Zhang's gain came from AI and that the figure was a record for China's richest person. He noted that ByteDance's Doubao is China's most widely used AI assistant. ByteDance is also the parent company of TikTok and Douyin.
AI was the largest single source of wealth on the list. Hoogewerf said 160 people, roughly one in ten, earn their money from AI. A record 1,529 people held more than 5 billion yuan, about $750 million, up 6.6% from the previous year. The number of dollar billionaires rose by 155 to 1,176, which Hurun said was 176 more than in the United States and slightly below the 1,185 recorded in 2021.
Bottled water magnate Zhong Shanshan placed second with $61 billion, down 23%. Robin Zeng, chairman of CATL, the world's largest maker of electric vehicle batteries, was third. Liang Wenfeng, founder of the AI startup DeepSeek, entered the list at seventh, and Chen Tianshi, chair of AI chipmaker Cambricon, ranked tenth.
The rankings show a split in the economy. Hoogewerf described a "two-speed economy" in which entrepreneurs in AI, semiconductors and robotics surged ahead, while those in consumer goods, real estate and traditional manufacturing saw their wealth shrink. Lei Jun, chairman of Xiaomi, was the year's biggest faller, with his fortune halved to $25.1 billion. For the first time, no mainland Chinese property developer appears in the top 100; the only real estate names left are Hong Kong landlord families.
Hurun said it cross-checked its information with entrepreneurs, regulators and industry experts, and acknowledged the limits of its methods, since many holdings are private and valuations shift.
The list lands against a mixed economic backdrop. China reported that its economy grew 4.5% in the July-September quarter from a year earlier, supported by strong exports. Leaders have set a 2026 growth target of 4.5% to 5%, down from 2025's 5% expansion. Government support for AI and electric vehicles has helped some industries, while small business owners report tough times as customers cut spending and a multi-year property downturn weighs on domestic demand.
The ByteDance ranking also carries a U.S. angle. TikTok's U.S. operations moved in January into a new joint venture made up mostly of American investors, following years of national security concerns that nearly led to a U.S. ban on the app. ByteDance still holds a minority stake in the U.S. arm.
