The Resurgence of Chinese Billionaires Amid AI Boom and Economic Optimism
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The Resurgence of Chinese Billionaires Amid AI Boom and Economic Optimism

China’s billionaires are making a strong comeback, fueled by the country’s rapid AI advancements and a more supportive government stance toward the private sector. Despite escalating trade tensions with the U.S., China’s stock markets have surged, with the Hang Seng Index rallying nearly 20% as officials promised greater economic support. The release of DeepSeek’s highly affordable AI model in January reignited investor confidence in China’s technology sector, further boosting billionaire wealth.
As a result, the combined net worth of Chinese billionaires on Forbes’ 2025 ranking soared to $1.68 trillion—a 26% increase from $1.33 trillion last year and surpassing the 2023 total of $1.67 trillion. This wealth surge has also increased the number of billionaires in mainland China to 450, up from 406 in 2024, though still below the peak of 495 in 2023. The country remains second only to the U.S., which has 902 billionaires.
Mainland China’s billionaire count excludes Hong Kong and Macau, where tycoon Li Ka-shing remains the richest with a $38.9 billion fortune. When including these regions, Greater China’s billionaire count reaches 516, up from 473 in 2024 but below the 562 recorded in 2023. Globally, there are now 3,028 billionaires, worth a collective $16.1 trillion.

AI and Market Rebounds Drive New Billionaires

While 23 Chinese billionaires dropped off the list, 31 newcomers emerged, along with 37 returnees who had previously lost their billionaire status. A key addition is Liang Wenfeng, founder of DeepSeek, whose cutting-edge AI model has outperformed rivals at a fraction of their costs. Liang, 40, holds an estimated net worth of $1 billion through his stakes in DeepSeek and hedge fund High-Flyer.
Meanwhile, China’s ten richest individuals now collectively hold $400.5 billion, up from $304 billion last year. Zhang Yiming, founder of ByteDance, claimed the top spot for the first time, surpassing long-time leader Zhong Shanshan of Nongfu Spring.

China’s Top 10 Billionaires in 2025

  1. Zhang Yiming (ByteDance) – $65.5 billion

    1. Zhang’s fortune surged over 50% amid ByteDance’s growing AI ambitions, despite uncertainties over TikTok’s U.S. ban threat. ByteDance’s AI-powered chatbot Doubao now has 82 million monthly active users, second only to OpenAI’s ChatGPT.

  2. Zhong Shanshan (Nongfu Spring, Pharmaceuticals) – $57.7 billion

    1. The former richest man in China saw his wealth decline due to stagnant revenues and public backlash over perceived Japanese influences in Nongfu Spring’s branding.

  3. Ma Huateng (Tencent) – $56.2 billion

    1. Tencent’s stock nearly doubled, driven by AI integration in WeChat and strategic investments in gaming franchises like Assassin’s Creed.

  4. Lei Jun (Xiaomi) – $43.5 billion

    1. His wealth tripled due to Xiaomi’s electric vehicle success, though a recent crash involving its driver-assist technology caused stock turbulence.

  5. Colin Huang (PDD Holdings) – $42.3 billion

    1. The e-commerce mogul faces challenges as PDD Holdings slows down after years of explosive growth, and its overseas arm Temu grapples with potential U.S. tariff changes.

  6. William Ding (NetEase) – $33.3 billion

    1. NetEase looks to gaming innovation, including a Marvel collaboration, to revive stagnant growth.

  7. Jack Ma (Alibaba) – $28.6 billion

    1. Ma resurfaced in February for a rare meeting with President Xi Jinping, signaling renewed government support for the private sector. Alibaba continues to expand in AI, investing $53 billion in the sector.

  8. He Xiangjian (Midea Group) – $27 billion

    1. His fortune grew modestly as Midea capitalized on China’s consumer subsidy program and raised $4 billion for global expansion.

  9. Wang Chuanfu (BYD) – $26.4 billion

    1. BYD surpassed Tesla in global EV sales, shipping 4.27 million vehicles in 2024 and setting a goal of 5.5 million for 2025.

  10. Lu Xiangyang (BYD) – $20 billion

  • The BYD co-founder’s wealth surged as the automaker’s dominance in the EV market solidified.

China’s Economic Revival and Future Outlook

Investor confidence in China’s tech sector is rebounding, with AI and EV industries leading the charge. The government’s increasing engagement with entrepreneurs and strategic economic policies suggest that China’s billionaires may continue to thrive despite global challenges. With AI development and overseas expansion on the rise, China’s private sector appears to be regaining momentum on the world stage.
Reference: Wang, Y. (2025, April 1). The 10 richest Chinese billionaires 2025. Forbes.https://www.forbes.com/sites/ywang/2025/04/01/the-10-richest-chinese-billionaires-2025/


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