The Hurun Research Institute's rankings released Tuesday put ByteDance founder Zhang Yiming back in first place among China's richest people. Hurun Report chairman Rupert Hoogewerf said Zhang's wealth increased 43% to $100 billion, with AI accounting for almost all of the gain. Hoogewerf said ByteDance's Doubao ranks as China's most-used AI assistant. ByteDance also owns the popular short-video platforms Douyin and TikTok.
The institute counted a record 1,529 people worth more than 5 billion yuan (about $750 million), an increase of 6.6% from last year. Hurun counted 1,176 billionaires measured in U.S. dollars, an increase of 155 people. That total exceeded the U.S. count by 176 but remained slightly below the 1,185 recorded in 2021. The institute has issued the rankings every year since 1999. Hurun checked information with entrepreneurs, regulators, industry experts and other sources, while acknowledging limitations in the compilation process.
Hurun placed bottled-water magnate Zhong Shanshan second with $61 billion, a decline of 23%. Hurun ranked CATL chairman Robin Zeng third. CATL is the world's largest producer of batteries for electric vehicles. DeepSeek founder Liang Wenfeng entered the list for the first time in seventh place. Chen Tianshi, chair of AI chipmaker Cambricon, ranked 10th.
Hoogewerf described AI as the list's largest single source of wealth creation. Hoogewerf said 160 people on the list, or one in 10, now derive wealth from AI. Hoogewerf said entrepreneurs in AI, semiconductors and robotics gained wealth, while entrepreneurs in consumer businesses, property and traditional manufacturing lost wealth.
China said last week that the economy expanded 4.5% in the July-September quarter compared with a year earlier, supported by strong exports. That growth brought China closer to meeting the official annual growth target. China's leaders have set a full-year growth target of 4.5% to 5%, below last year's 5% expansion. Government support for technologies including AI and electric vehicles helped some industries thrive. However, small-business owners reported difficult conditions as customers reduced spending. A property-market downturn lasting years has weakened domestic demand in China.
Hoogewerf said Xiaomi chairman Lei Jun recorded this year's largest wealth decline, with Lei's fortune halving to $25.1 billion. Xiaomi makes smart consumer electronics. Hoogewerf said consumer-sector fortunes declined broadly. Hoogewerf said no mainland property developer remained among the top 100 for the first time. Hoogewerf said Hong Kong landlord families were the only property-sector names still near the top.
ByteDance Founder Zhang Yiming Reclaims Top Spot in China's Richest List
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Summary
ByteDance founder Zhang Yiming has topped China’s richest list again, with his wealth rising 43% to $100 billion, fueled by AI growth. The Hurun Research Institute counted 1,529 ultra-rich individuals, with AI as the top wealth driver. Traders using value investing in crypto and spot grid strategy are closely watching AI-related assets for potential gains.
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