Zhang Yiming Tops China Rich List With Record $100 Billion AI Fortune

ByteDance founder Zhang Yiming claimed the top spot on China's rich list with a record $100 billion fortune, up 43% — "almost all of it on the back of AI," according to Rupert Hoogewerf, chairman of the Hurun Report.

The Hurun Research Institute released its annual rankings on Tuesday. Zhang's $100 billion marks the highest net worth ever recorded for China's richest person. Hoogewerf credited the surge largely to ByteDance's artificial intelligence business, noting that its Doubao assistant is China's most used AI tool.

ByteDance also owns the short-video platforms Douyin and TikTok, giving Zhang control of one of the world's largest consumer internet franchises.

How big is China's billionaire class?

Very big, and still growing. Hurun counted a record 1,529 people worth more than 5 billion yuan (about $750 million), up 6.6% from last year. The number of billionaires measured in U.S. dollars rose to 1,176 — up 155 people and 176 more than the United States. That total sits just below the 2021 peak of 1,185.

The institute has published the list annually since 1999. It cross-checked its figures with entrepreneurs, regulators and industry experts, while acknowledging limitations in the methodology.

Who else gained and who lost?

Bottled water magnate Zhong Shanshan fell to second place with $61 billion, down 23%. Robin Zeng, chairman of CATL, the world's largest maker of electric vehicle batteries, took third place.

AI produced the most striking new entries. Liang Wenfeng, founder of Chinese AI startup DeepSeek, debuted on the list in seventh place. Chen Tianshi, chair of AI chipmaker Cambricon, ranked 10th.

"AI is the biggest single wealth engine on this list: 160 Hurun rich listers — 1 in 10 — now make their money from AI," Hoogewerf said in a statement.

The losses were just as sharp. Lei Jun, chairman of smart consumer electronics maker Xiaomi, was this year's "biggest faller," Hoogewerf said, with his wealth halved to $25.1 billion. Consumer fortunes fell across the board.

What does the list say about China's economy?

Hoogewerf described a stark divide. "This year's gains were polarised — entrepreneurs in AI, semiconductors and robotics surged ahead, whilst those in consumer, real estate and traditional manufacturing saw their wealth shrink — a two-speed economy," he said.

Property delivered a landmark shift. "Today, for the first time ever, not a single mainland property developer remains in the Top 100 — the only property names left at the top are the Hong Kong landlord families," Hoogewerf said.

The macro backdrop explains the split. China reported last week that its economy grew 4.5% in the July-September quarter from a year ago, driven by robust exports. That keeps Beijing within reach of its official growth target of 4.5% to 5% for the year, down from last year's 5% expansion.

Government support for AI, semiconductors and electric vehicles has fueled gains in those sectors. Small business owners reported tough times as customers cut back spending. Domestic demand remains weighed down by a yearslong downturn in the property market.

The rankings signal where Chinese capital and policy are flowing: technology wealth is compounding while consumer and real estate fortunes compress. Zhang's record haul, built on Doubao's mass adoption, shows AI has now produced China's largest personal fortune.