TikTok founder reaches record fortune in China driven by AI

Zhang Yiming, founder of ByteDance, has regained the top spot among China's wealthiest with a record fortune of 670 billion yuan, driven by AI business growth. The Hurun Report lists 1,529 billionaires, with a collective wealth increase of 7% to 32 trillion yuan. Zhang surpassed Zhong Shanshan, who fell to second place after losing 120 billion yuan. The AI sector has become a major wealth creator, with over 160 entrepreneurs involved. Notable newcomers include Liang Wenfeng and Chen Tianshi, while several tech leaders like Lei Jun and Ma Huateng experienced significant losses.