ByteDance Founder Zhang Yiming Tops China Rich List as AI Wealth Surges

Zhang Yiming, founder of TikTok parent ByteDance, has reclaimed the title of China's richest person with a fortune of $100 billion, up 43%, driven almost entirely by the company's AI expansion, according to the Hurun Report. Hurun chairman Rupert Hoogewerf said AI is "the biggest single wealth engine" on the list, with 160 of 1,529 entrants — about one in 10 — now deriving wealth from AI. A record 1,529 individuals hold fortunes above 5 billion yuan ($645 million), up 6.6% year-on-year. China now counts 1,176 billionaires, 155 more than last year and 176 ahead of the U.S., though below the 2021 peak of 1,185. The ranking reflects a "two-speed economy": AI, semiconductor and robotics entrepreneurs gained, while consumer, real estate and traditional manufacturing wealth shrank. No mainland Chinese property developer appeared among the top 100 for the first time. The list follows third-quarter GDP growth of 4.5% year-on-year, supported by exports but weighed down by weak domestic demand and a prolonged property downturn.