AI Wealth Surge Pushes ByteDance Founder Back to the Top

Zhang Yiming is once again the wealthiest person in China.

The founder of ByteDance reclaimed the top spot on the Hurun Research Institute’s annual rich list. His net worth jumped 43% to reach $100 billion. Rupert Hoogewerf, chairman of the Hurun Report, attributed the rise to the company’s focus on artificial intelligence. He noted that ByteDance’s Doubao is currently China’s most used AI assistant.

The list marks a record year for China’s high net worth individuals. A total of 1,529 people now hold more than 5 billion yuan, a 6.6% increase from last year. When measured in U.S. dollars, the number of billionaires rose to 1,176. This count is 176 higher than the number of billionaires in the United States, though it remains slightly below the 1,185 recorded in 2021.

The data reveals a sharp division in the Chinese economy. Hoogewerf described the trend as a two-speed economy where tech leaders gain while traditional sectors lose. He stated that 160 people on the list now earn their wealth from AI, representing one in ten billionaires. Conversely, those in consumer goods, real estate, and traditional manufacturing saw their wealth shrink. Zhong Shanshan, a bottled water magnate, fell to second place with $61 billion. Robin Zeng, chairman of CATL, moved to third place.

New entrants reflect the current tech boom. Liang Wenfeng, founder of DeepSeek, ranked seventh on the list. Chen Tianshi, chair of AI chipmaker Cambricon, placed tenth. These figures contrast with the struggles in other industries. Lei Jun, chairman of Xiaomi, experienced the largest drop in wealth. His net worth was cut in half to $25.1 billion.

The real estate sector faced particular pressure. Hoogewerf noted that no mainland property developer remains in the top 100 for the first time. Only Hong Kong landlord families hold top positions in that category. This decline aligns with the country’s economic data. China reported 4.5% growth in the third quarter of 2026. The annual growth target is set between 4.5% and 5%, down from 5% in the previous year. Domestic demand remains weak due to the property market downturn, even as export driven growth continues.