Zhang Yiming Tops China Wealth List as AI Sector Outpaces Consumer and Real Estate

Zhang Yiming has reclaimed the title of China’s richest person with a net worth of $100 billion, a figure that represents a 43% increase from the previous year. The surge in his personal wealth is directly attributed to ByteDance’s expansion into artificial intelligence. This marks a new record high for the top spot on the country’s wealth rankings.

The Hurun Research Institute released the updated list on Tuesday. The organization has published this ranking annually since 1999. According to the data, 1,529 individuals now hold more than 5 billion yuan, which is approximately $750 million. This total is up 6.6% from last year’s count.

Rupert Hoogewerf, chairman of the Hurun Report, stated that Zhang’s gain was achieved almost entirely through AI. He noted that ByteDance’s Doubao is currently the most used AI assistant in China. Hoogewerf identified AI as the largest single wealth engine on the list, with 160 people, or one in ten, deriving their fortunes from the sector.

ByteDance operates the short video platforms TikTok and Douyin. In January, the U.S. operations of TikTok were restructured to be majority owned by American investors. This move addressed national security concerns that had previously threatened to ban the app in the United States. ByteDance retains a minority stake in the U.S. division. Oracle, which is chaired by Larry Ellison, is among the investors in this venture.

The list shows a sharp divide in economic performance. Zhong Shanshan, a bottled water magnate, fell to second place with a net worth of $61 billion, down 23%. Robin Zeng, chairman of CATL, the world’s largest electric vehicle battery maker, held the third position. Liang Wenfeng, founder of the AI startup DeepSeek, entered the list at number seven. Chen Tianshi, chair of AI chipmaker Cambricon, ranked tenth.

Hoogewerf described the economic trend as polarized. Entrepreneurs in AI, semiconductors, and robotics saw their wealth surge. In contrast, those in consumer goods, real estate, and traditional manufacturing saw their fortunes shrink. He called this a two-speed economy.

China’s economy grew 4.5% in the July to September quarter, driven by strong exports. This growth brings the country closer to its official annual target for 2026, which is set between 4.5% and 5%. Lei Jun, chairman of Xiaomi, suffered the largest drop in the rankings. His wealth was halved to $25.1 billion.

The decline in the real estate sector is evident in the top 100 list. Hoogewerf said that for the first time, no mainland property developer remains in the top 100. The only property-related names left at the top are Hong Kong landlord families. This shift reflects the long-standing downturn in China’s property market and reduced domestic demand.