ByteDance’s Zhang Yiming tops China rich list with US$99.7 billion as AI fuels fortunes

ByteDance's Zhang Yiming leads China's richest individuals list with $99.7 billion fortune, powered by AI boom

According to the 28th edition of the Hurun China Rich List, tech entrepreneur Zhang Yiming has reclaimed the title of China's richest person, boasting a wealth of nearly $100 billion, a 43% increase from last year. As the founder of ByteDance, the parent company of TikTok, Zhang's wealth surged due to the company's aggressive expansion into artificial intelligence (AI).

The Hurun Research Institute released the rankings on Tuesday, revealing that AI has become the primary wealth generator among China's top entrepreneurs. Of the 1,529 individuals on the list with fortunes exceeding 5 billion yuan (approximately $750 million), 160 make their money from AI, representing about one in ten individuals.

Liang Wenfeng, founder of AI startup DeepSeek, emerged as the year's sensation, ranking seventh with $41.7 billion. Other notable entries include Wang Xingxing, founder of humanoid robot maker Unitree Robotics, who debuted at No. 78 with $10.3 billion, and Chen Tianshi, CEO of AI chipmaker Cambricon Technologies, who entered the top 10 with $30.5 billion.

The total number of entries on the list reached a record 1,176, up 6.6% from the previous year, despite most individuals seeing their wealth decline. Zhang Hejun, founder of inverter and energy storage manufacturer Deye, was the biggest riser among those benefiting from renewable energy and storage. The Hurun Research Institute predicts that with 43 individuals now worth 100 billion yuan or more (about $15 billion), the number is expected to double within the next five years.