ByteDance Founder Zhang Yiming Reclaims China's Top Wealth Spot on AI Demand

Zhang Yiming is back on top of China's wealth rankings.

The ByteDance founder took the number one position on the Hurun Research Institute's annual list, released Tuesday, with a net worth of $100 billion. Hurun Chairman Rupert Hoogewerf said Zhang's gains, up 43% for the year, came "almost all of it on the back of AI." The institute has published the list every year since 1999.

Hoogewerf said ByteDance's Doubao is the most used AI assistant in China. AI also drives wealth for others on the list: 160 people, or one in 10, now make their money in that field. Liang Wenfeng, founder of startup DeepSeek, entered the rankings at seventh place, while Cambricon chair Chen Tianshi placed tenth. Hurun counts 1,176 people with net worth in U.S. dollars, up 155 from a year earlier, compared with 1,185 in 2021.

ByteDance is the parent company of TikTok and Douyin. TikTok's U.S. operations were restructured in January so that American investors hold most of the company, after years of national security concerns that nearly led to a U.S. ban. ByteDance retains a minority stake. Oracle, chaired by Larry Ellison, is among the investors in TikTok's U.S. venture.

The rankings also track where wealth is shrinking. Bottled water magnate Zhong Shanshan dropped to second place at $61 billion, down 23%, and Robin Zeng of CATL, the largest maker of EV batteries, ranked third. Hoogewerf called Lei Jun of Xiaomi the year's biggest faller, with his wealth cut in half to $25.1 billion. He said no mainland property developer remains in the top 100 for the first time, with only Hong Kong landlord families left at the top of that sector.

China's economy grew 4.5% in the July to September quarter from a year earlier, and leaders have set a 2026 growth target of 4.5% to 5%, down from 5% last year. Hurun said it cross-checks its information with entrepreneurs, regulators and industry experts, while acknowledging limits to its method. The next annual list is due in 2027.