Zhang Yiming has reclaimed the top spot as China’s richest person, driven by the rapid growth of artificial intelligence. According to the Hurun Research Institute, Zhang’s net worth reached €89.4 billion, which marks a 43 percent increase from the previous year and sets a new record for the ranking.
His company, ByteDance, which operates short-video platforms Douyin and TikTok, as well as the AI chatbot Doubao, has experienced significant expansion. The tech-driven success of ByteDance contrasts with declines in sectors like real estate and consumer goods, where traditional wealth builders have faced financial challenges.
Zhong Shanshan, founder of a mineral water company, dropped to second place with a net worth of €54.7 billion, down 23 percent from last year. Meanwhile, Robin Zeng, leader of electric vehicle battery maker CATL, secured third place with €51.4 billion.
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The number of Chinese billionaires with assets exceeding ¥5 billion (about €672 million) hit a record 1,529 individuals, according to the institute’s assessment. Additionally, those with fortunes above $1 billion grew from 155 to 1,176, surpassing the U.S. by 176 individuals, highlighting the continued growth of wealth in China.
These evaluations, conducted annually since 1999, are based on financial disclosures as of September 1, highlighting artificial intelligence, robotics, and semiconductors as dominant wealth-generating sectors.