Zhang Yiming Leads China Rich List

China's wealth hierarchy shifted sharply in 2026, with technology executives overtaking traditional industry leaders. The Hurun Research Institute released its annual rankings on Tuesday, showing that artificial intelligence drove the most dramatic changes in personal fortune.

Zhang Yiming, founder of ByteDance, reclaimed the number one position with a net worth of $100 billion. His wealth increased by 43% from the previous year. Rupert Hoogewerf, chairman of the Hurun Report, attributed this jump primarily to the company's AI initiatives. He noted that ByteDance's Doubao is currently the most used AI assistant in China. The company also operates the short-video platforms Douyin and TikTok.

The list identified 1,529 individuals with net worths exceeding 5 billion yuan, or about $750 million. This figure represents a 6.6% increase from last year. When measured in U.S. dollars, the number of Chinese billionaires rose to 1,176. This count is 176 higher than the number of U.S. billionaires, though it remains slightly below the 2021 peak of 1,185.

AI accounted for 160 entries on the list, meaning one in ten billionaires now derives their wealth from the sector. New entrants reflected this trend. Liang Wenfeng, founder of DeepSeek, ranked seventh. Chen Tianshi, chairman of AI chipmaker Cambricon, placed tenth. These gains contrasted with declines in other sectors. Zhong Shanshan, the bottled water magnate, fell to second place with $61 billion, a 23% decrease. Robin Zeng, chairman of battery maker CATL, held the third spot.

Traditional industries faced steep losses. Lei Jun, chairman of Xiaomi, experienced the largest drop, with his wealth halving to $25.1 billion. Hoogewerf described the economy as two-speed, with AI, semiconductors, and robotics advancing while consumer and manufacturing sectors shrank. For the first time, no mainland property developer appeared in the top 100. Only Hong Kong landlord families remained in the top tier of the property sector.

These shifts align with recent economic data. China's economy grew 4.5% in the third quarter of 2026, driven by exports. This performance moves the country closer to its annual growth target of 4.5% to 5%. While high-tech sectors benefit from government support, small business owners report tighter spending conditions. The domestic property market continues to weigh on consumer demand, a trend clearly visible in the latest wealth rankings.