Zhang Yiming tops China rich list at $100 billion on AI

The Hurun list has been published annually since 1999, and this year's edition shows a clear split. Hoogewerf described the gains as polarised: entrepreneurs in AI, semiconductors and robotics surged ahead, while those in consumer, real estate and traditional manufacturing saw their wealth shrink. Zhang's $100 billion is a record high for China's richest person, and Hoogewerf attributed almost all of the 43% rise to AI, noting that ByteDance's Doubao is China's most used AI assistant.

The list also captures the broader strain in China's economy. China said last week its economy grew 4.5% in the July-September quarter from a year ago, fueled by robust exports, moving closer to its official annual growth target of 4.5% to 5%. But domestic demand has been weighed down by a yearslong downturn in the property market, and the rankings reflected that: for the first time, no mainland property developer remains in the Top 100, with only Hong Kong landlord families left at the top.