China’s rich list topped by $100 billion TikTok AI fortune: ByteDance founder Zhang Yiming
It's a record high for China's richest person, and the rankings included a record 1,529 people worth more than $750 million.
China's richest person, ByteDance founder Zhang Yiming, has surged to the top of a list compiled by The Hurun Research Institute, boasting a staggering $100 billion fortune. This 43% increase can be attributed to ByteDance's AI ventures, with the AI sector outpacing other industries on the list. Tencent's Zhong Shanshan, a bottled water magnate, dropped to second place with $61 billion, while Robin Zeng of CATL electric vehicle battery maker claimed third.
The institute noted a record 1,529 billionaires in China, up 6.6% from last year, while the number of U.S.-dollar billionaires reached a new high of 1,176. AI startup DeepSeek's founder Liang Wenfeng, and Cambricon's Chen Tianshi, chair of an AI chipmaker, rounded out the top ten. The report highlights a bifurcated economy, with AI, semiconductors, and robotics industries flourishing, while consumer, real estate, and traditional manufacturing sectors suffered setbacks.
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