ByteDance founder Zhang Yiming regains top spot on China’s rich list amid AI boom

By Aamir Latif

ISLAMABAD (AA) - ByteDance founder Zhang Yiming regained the top spot on China’s rich list Tuesday as the technology company’s expansion into artificial intelligence boosted his fortune, according to the Hurun Research Institute.

Hurun estimated his wealth at $99.7 billion, up 43% from last year and a record for the list’s richest person. ByteDance owns short-video platforms TikTok and Douyin and operates Doubao, China’s most popular AI assistant.

Bottled water magnate Zhong Shanshan slipped to second with $61 billion, down 23%. CATL Chairman Robin Zeng ranked third with $57.3 billion.

Chinese artificial intelligence startup DeepSeek founder Liang Wenfeng entered the list in seventh place, while AI chipmaker Cambricon chair Chen Tianshi ranked 10th.

The ranking included a record 1,529 people worth at least 5 billion yuan ($740 million).

The number of US-dollar billionaires rose by 155 to 1,176, exceeding the US total by 176, according to Hurun.

Hurun said AI, semiconductor and robotics entrepreneurs gained wealth, while consumer businesses and real estate faced pressure.

The annual ranking, published since 1999, used wealth estimates as of Sept. 1.

Amir Latif Arain