TikTok founder reaches record fortune in China driven by AI

Zhang Yiming, founder of ByteDance, has regained the title of the richest person in China with a fortune of 670 billion yuan, driven by AI business growth. His wealth increased by 200 billion yuan due to ByteDance's expansion in artificial intelligence. The Hurun Report lists 1,529 billionaires, with a collective wealth rise of 7% to 32 trillion yuan. Zhong Shanshan fell to second place after losing 120 billion yuan, while Zeng Yuqun of CATL saw a 17% increase in wealth. The AI sector is now a major wealth creator, with over 160 entrepreneurs involved. However, many others, including Lei Jun and Ma Huateng, experienced significant losses.