China’s rich list topped by $100 billion TikTok AI fortune: ByteDance founder Zhang Yiming
Source: Fortune ·
It's a record high for China's richest person, and the rankings included a record 1,529 people worth more than $750 million.
From the source
ByteDance founder Zhang Yiming reclaimed the top spot on a list of China’s richest people, driven by his company’s push into artificial intelligence. The rankings released by The Hurun Research Institute on Tuesday reflected that the country’s high-tech sectors were rising but others like consumer and real estate were under pressure. The institute, which has published the list annually since 1999, found a record 1,529 people with more than 5 billion yuan (about $750 million), up 6.6% from last year. The number of billionaires based on their net worth in U.S. dollars rose to 1,176, up 155 people — 176 more than the U.S. That was slightly below the 1,185 people in 2021. Zhang topped the list with $100 billion, up 43%, “almost all of it on the back of AI,” and the amount was a record high for China’s richest person, Rupert Hoogewerf, Hurun Report chairman, said in a statement. Hoogewerf noted that ByteDance’s Doubao is China’s most used AI assistant. ByteDance is also the parent company…