Zhang Yiming tops China rich list with $99.7 billion as AI fuels fortunes

Key facts

• Zhang Yiming's wealth reached a record US$99.7 billion.
• AI is the primary driver of wealth gains on the Hurun list.
• 160 individuals on the list make their money from AI.
• Zhong Shanshan's wealth fell 23% to US$61 billion.
• No mainland property developers are in the Top 100.

ByteDance founder Zhang Yiming has reclaimed the title of China's richest person with a US$99.7 billion fortune, according to the Hurun Research Institute's 28th edition. His wealth surged 43%, largely driven by ByteDance's expansion into artificial intelligence, which the Hurun Report chairman identified as the biggest single wealth engine on the list. The rankings reflect a polarization in China's economy, with AI, semiconductors, and robotics sectors surging while consumer and real estate sectors face pressure. China's economy grew 4.5% in the July-September quarter.