The 2025 New Fortune 500 Rich List has been unveiled, marking a transformative year in China’s entrepreneurial and technological evolution. AI innovation, digital transformation, and strategic industrial upgrades have collectively redefined the nation’s wealth hierarchy. For the first time, Zhang Yiming, founder of ByteDance, ascends to the top with a staggering net worth of ¥481.57 billion (approximately $67.2 billion), dethroning four-time consecutive richest man Zhong Shanshan. Meanwhile, Liang Wenhui, founder of DeepSeek, enters the top ten at number nine with a valuation of ¥184.6 billion, highlighting the explosive rise of homegrown AI ventures.
This year, the total market value held by the 500 wealthiest individuals or families reached ¥13.7 trillion, up 11% year-on-year — matching the performance of the CSI 300 Index. The average net worth stands at ¥273.8 billion, with an entry threshold of ¥66.2 billion. Notably, 341 billionaires are now on the list, and 22 individuals hold assets exceeding ¥100 billion — a 50% increase from last year.
AI Revolutionizes the Top 10: From Content to Core Technology
Artificial intelligence is no longer just a buzzword — it’s the driving force behind China’s new wealth creation engine. The top ten richest individuals in 2025 reflect this seismic shift, with four leaders from Hangzhou, Zhejiang Province, including Zhang Yiming, Jack Ma (Alibaba), Ding Lei (NetEase), and Liang Wenhui (DeepSeek).
Zhang Yiming’s ascent is powered by ByteDance’s sustained global dominance through TikTok and its aggressive expansion into AI-native applications like Doubao (AI assistant), Ji Meng AI, and Doubao AI Learning. Doubao alone boasts over 116 million monthly active users, positioning ByteDance as a key player in the generative AI race.
Despite varying private valuations — ranging from $315 billion to $450 billion — ByteDance reported **$155 billion in revenue for 2024**, with a net profit of $33 billion. This performance rivals Meta and exceeds both Alibaba and Tencent in growth momentum. As TikTok continues to expand its e-commerce ecosystem globally, Zhang’s wealth trajectory remains upward.
Liang Wenhui’s meteoric rise exemplifies the power of foundational AI innovation. His company, DeepSeek, launched the R1 large language model in early 2025, achieving over 180 million monthly active users within a month — surpassing Kimi (Moonshot AI) by more than tenfold. Unlike closed-source models such as OpenAI’s GPT series, DeepSeek adopted an open-source strategy combined with high performance and low computational cost, accelerating adoption across tech giants like Tencent, Baidu, and China Mobile.
Though privately held and unfunded externally, DeepSeek’s estimated valuation ranges between $20 billion and $300 billion, with Bloomberg analysts suggesting a median of $30 billion — potentially 10 times that of Moonshot AI. Its breakthrough not only challenged U.S. leadership in AI but also restored global investor confidence in Chinese technological innovation.
Meanwhile, established tech titans like Ma Huateng (Tencent) and Jack Ma (Alibaba) rebounded strongly. Tencent integrated DeepSeek into WeChat and launched its own AI assistant, Tencent Yuanbao, which now has over 40 million active users. The company saw a 68% surge in net profit in 2024, reaching ¥194 billion, largely due to AI-enhanced advertising systems.
Alibaba doubled down on AI infrastructure with a planned investment of over ¥380 billion ($53 billion), focusing on cloud computing and developer ecosystems via its open-source Qwen model — now the world’s most widely forked LLM, surpassing Meta’s Llama series.
Even traditional hardware players like Lei Jun (Xiaomi) capitalized on the AI wave, leveraging smartphone supply chain expertise to enter smart vehicles and AI-powered wearables. His net worth surged 96% to ¥201 billion, landing him sixth on the list.
Zhong Shanshan (Nongfu Spring), once dominant for four consecutive years, slipped to second place with ¥360 billion amid slower growth in consumer staples compared to high-tech sectors.
TMT Leads Wealth Creation: 110 Entrepreneurs from Tech, Media & Telecom
The Technology, Media, and Telecommunications (TMT) sector remains the most fertile ground for wealth generation, contributing 110 entrepreneurs — one-quarter of the entire list — with a combined wealth of ¥3.34 trillion.
Three core drivers fuel this boom:
- Semiconductors & Chips
- Artificial Intelligence
- Consumer Electronics & Smart Hardware
China exported 298.1 billion chips in 2024, worth $159.5 billion, overtaking textiles and smartphones as the country's top export category. This turnaround was accelerated by AI demand in data centers, autonomous driving, and high-speed communications.
AI chipmaker Cambricon saw its stock surge nearly 20-fold from lows, propelled by rising demand for domestic alternatives amid U.S. export controls. Founder Chen Tianshi, aged just 39, saw his net worth soar to ¥78.6 billion, making him the fastest-growing billionaire for the second straight year.
Printed Circuit Board (PCB) manufacturers also benefited as AI servers require advanced interconnectivity solutions. New entrants like Wu Ligang (Hongyi Electronics) and Chen Tao (Shenghong Technology) joined the ranks thanks to booming data center investments.
The human-machine interface frontier is also heating up:
- Keli Sensor developed six-axis force sensors critical for robotic precision control.
- Unitree Robotics’ Wang Xingxing, aged only 35, made his debut with ¥6.7 billion after viral exposure during the Spring Festival Gala.
- Inovance Technology and Estun Automation founders entered via industrial robotics advancements.
China now leads globally in humanoid robot patents (5,688 filings in five years) and component localization (70% domestic production rate). Companies like Lingyi Intelligent and Junying Electronics are pioneering dual-use strategies across automotive and robotics sectors.
Consumer Economy Surges: Tea, Coffee & Emotional Value Drive New Wealth
While tech dominates headlines, consumer brands are quietly generating massive wealth through emotional engagement and repeat purchasing behavior.
The daily consumer goods sector contributed 53 billionaires, with average wealth growing 25% year-on-year — the fastest among all industries.
Coffee and tea chains led the charge:
- Mixue Ice Cream & Tea: Brothers Zhang Hongchao and Zhang Hongbo built a global chain of over 46,000 stores, surpassing Starbucks in scale. Their combined net worth hit ¥117.9 billion, making them Henan’s new richest.
- Boba Tea Kings: Five tea brand founders made the list — including Nie Yunchen (Heytea), Zhang Junjie (Chagee), Wang Xiaokun & Liu Weihong (Chabaidao), and Wang Yun’an (Guming).
- Zhang Junjie, once a street orphan, founded Chagee and took it public in the U.S., earning ¥12.4 billion by age 30.
Luxury positioning powered other winners:
- Laopu Gold: With a gross margin of 40%, far above rivals like Chow Tai Fook (~22%), Laopu sells "Chinese luxury" through premium craftsmanship and exclusivity.
- Mogao Cosmetics: Founder Mao Ge Ping leveraged celebrity makeup artistry into a brand with an 84% gross margin, listing on Hong Kong’s stock exchange.
Emotional value underpins pricing power:
“LV doesn’t sell bags — it sells status.”
“Bubble Mart doesn’t sell toys — it sells joy.”
Similarly:
- Bubble Mart sells “affordable trendiness”
- Mixue sells “sweet relief” for office workers
- Laopu Gold sells “cultural pride”
Even pet food brand Piduobang founder Li Xiang entered the list with ¥7 billion — proof that niche emotional connections can scale into national brands.
Regional Shifts: Hangzhou Rises, Western China Gains Momentum
Geographically, the wealth map is rebalancing.
Zhejiang Province added 10 new billionaires, reclaiming leadership in innovation-driven growth. Shanghai (+7) and Jiangsu (+8) followed closely.
Hangzhou alone hosts four top-ten billionaires — a concentration unseen since Shenzhen’s peak era. Factors include:
- Strong academic base (Zhejiang University)
- Supportive local policies
- Talent return trends from Silicon Valley and Shenzhen
Conversely, Beijing dropped to third place despite its tech density, reflecting regulatory impacts on education and real estate sectors.
In a surprising trend, western provinces are rising:
- Sichuan increased from 9 to 16 billionaires
- Inner Mongolia, Xinjiang, Tibet, Gansu each gained new entrants
- Haisike’s Wang Junmin became Tibet’s first billionaire via pharmaceuticals
This suggests China’s innovation engine is decentralizing — no longer confined to coastal hubs.
Industry & Regional Wealth Champions: EVs Fuel Cross-Sector Surge
Six out of 17 industry-specific richest individuals owe their status directly or indirectly to electric vehicles:
- Zeng Yuqun (CATL) – Battery kingpin
- Lü Xiangyang (BYD investor) – Financial sector leader
- Pei Zhenhua & Rong Jianfen – CATL shareholders
- Xiang Guangda (Tsingshan Holding) – Nickel supplier for EV batteries
- Cao Dewang (Fuyao Glass) – Automotive glass innovator
- Yang Shaopeng (SITC Logistics) – Export logistics boom
Even chemical giant Baofeng Energy rose by integrating coal-to-olefin processes with green hydrogen — showing how traditional industries adapt.
Regionally, consumption fueled local champions:
- Henan: Mixue dethroned pig farming tycoon Qin Yinglin
- Shaanxi: Biotech leader Fan Dai-di became new richest
- Hubei: Liquor maker Wu Shaoxun rose via regional loyalty
- Tianjin: E-bike maker AiMa unseated Sun Hongbin
Core Keywords
AI innovation, Chinese billionaires, TMT sector, wealth creation, semiconductor industry, consumer brands, robotics, electric vehicle supply chain
Frequently Asked Questions
Q: What caused Zhang Yiming to become China’s richest person in 2025?
A: His leadership at ByteDance, driven by TikTok's global success and rapid adoption of AI products like Doubao, propelled his personal valuation past ¥480 billion amid strong revenue growth and market re-rating.
Q: How did DeepSeek achieve such rapid growth?
A: By combining open-source accessibility with high efficiency and low-cost training methods, DeepSeek gained widespread adoption among enterprises and developers — achieving over 180 million users quickly while gaining support from major chipmakers like Huawei Ascend.
Q: Why are so many new billionaires coming from consumer brands?
A: Brands like Mixue Ice Cream & Tea succeed by offering affordable emotional value with high repeat purchase rates. Combined with franchising scalability and supply chain control, they generate stable cash flows attractive to investors.
Q: Is the semiconductor industry becoming more profitable in China?
A: Yes. Despite external restrictions, rising demand from AI and EVs has boosted domestic chip sales — China exported over $159 billion worth of integrated circuits in 2024, surpassing previous records.
Q: Are younger entrepreneurs dominating the list now?
A: The trend is clear — six of the top ten are under 55, including three millennials (Zhang Yiming, Huang Zheng, Liang Wenhui). Most come from digital economy fields rather than legacy industries.
Q: Will AI continue to reshape wealth distribution in coming years?
A: Absolutely. With China investing heavily in foundational models, quantum computing, and autonomous systems, early innovators will likely see exponential returns — especially as AI integrates into manufacturing, healthcare, and finance.