AI Boom Lifts ByteDance Founder Zhang Yiming to Top of China Wealth Rankings

A sharp economic divide defined the 2026 Hurun Rich List released Tuesday, with artificial intelligence driving record gains for some while traditional industries saw steep losses. ByteDance founder Zhang Yiming reclaimed the top spot on the ranking, a position he lost previously but regained due to his company's rapid expansion into AI.

Zhang's net worth hit $100 billion, a 43% jump from the prior year. Rupert Hoogewerf, chairman of the Hurun Research Institute, attributed nearly the entire increase to AI. He noted that ByteDance's Doubao is currently the most widely used AI assistant in China. The company also retains control over Douyin and TikTok, two dominant short-video platforms.

The list counted a record 1,529 individuals with fortunes exceeding 5 billion yuan, or roughly $750 million. This total represents a 6.6% increase year over year. When adjusted for exchange rates, the number of billionaires in U.S. dollars rose to 1,176, adding 155 new millionaires to the count. This figure now exceeds the U.S. total by 176, though it remains slightly below the 1,185 recorded in 2021.

Hoogewerf identified AI as the largest single source of new wealth this year. He stated that 160 list members, or one in ten, now derive their income from AI ventures. New entrants included Liang Wenfeng, founder of DeepSeek, who placed seventh, and Chen Tianshi, chair of AI chipmaker Cambricon, who ranked tenth.

While tech leaders climbed, others fell sharply. Zhong Shanshan, the bottled water magnate, slid to second place with $61 billion, a 23% drop. Robin Zeng, chairman of battery maker CATL, took third. Xiaomi chairman Lei Jun suffered the steepest decline, with his fortune halving to $25.1 billion. Hoogewerf described this disparity as a two-speed economy, noting that consumer goods, real estate, and traditional manufacturing saw widespread wealth erosion.

The property slump was particularly evident in the rankings. For the first time, no mainland property developer appeared in the top 100. The only remaining real estate names near the top are families based in Hong Kong. The institute cross-checked data with entrepreneurs and regulators but acknowledged methodological limits.

These rankings coincide with mixed national economic signals. China reported 4.5% economic growth for the July to September quarter, supported by strong exports. This pace aligns closely with the government's official annual target of 4.5% to 5%. While state-backed sectors like AI and electric vehicles thrive, small business owners face difficult conditions as domestic demand remains weighed down by a persistent property market downturn.