ByteDance founder Zhang Yiming has reclaimed the title of China’s richest person with a nearly US$100 billion fortune, as artificial intelligence powers a surge in wealth among China’s top entrepreneurs, according to the Hurun Research Institute.
The 43-year-old Zhang, who topped the ranking in 2024, saw his wealth rise 43 per cent to US$99.7 billion – a record for China’s richest individual – as TikTok owner ByteDance aggressively expanded into AI, according to the 28th edition of the Hurun China Rich List released on Tuesday.
The rankings included 1,529 individuals with fortunes exceeding 5 billion yuan (US$750 million) as of September 1, up 6.6 per cent from last year and surpassing the previous peak of 1,460 individuals set in 2021.