No mainland China property tycoons in Hurun top 100 for first time
The 2026 Hurun China Rich List shows no mainland property developer in the top 100 for the first time. ByteDance founder Zhang Yiming reclaimed the top spot with a net worth of almost US$100 billion, while AI and tech fortunes dominated the rankings.
No mainland Chinese property developer made the top 100 of the annual Hurun China Rich List for the first time in the ranking's history, the Shanghai-based Hurun Research Institute said on Tuesday. The only property names left among the highest echelons are the Hong Kong landlord families, led by Li Ka Shing and his son Victor Li Tzu-kuoi, who ranked in the top 10 with a combined net worth of US$37.6 billion, up 8 per cent from last year.
ByteDance founder Zhang Yiming, 43, reclaimed the top spot after a 43 per cent surge in his net worth to almost US$100 billion. Zhang last topped the list in 2024. Zhong Shanshan, 71, whose wealth largely comes from bottled water producer Nongfu Spring, fell to second place as his net worth dropped 23 per cent to US$61 billion.
The list, now in its 28th year, ranks entrepreneurs with fortunes exceeding 5 billion yuan (US$750 million) as of 1 Sep. The latest edition features 1,529 such individuals. Rupert Hoogewerf, Hurun Report's chairman and chief researcher, said Zhang returned to the top spot as artificial intelligence (AI) emerged as "the largest single wealth engine" on this year's list.
Some 160 people on the list, or about one in 10, now make their money from AI, Hoogewerf said. Liang Wenfeng, founder of AI start-up DeepSeek, debuted at seventh place with a net worth of US$41.7 billion. Chen Tianshi of AI chipmaker Cambricon Technologies broke into the top 10 for the first time as his fortune climbed 14 per cent to US$30.5 billion. Both men are 41, making them the youngest self-made members of the top 10.
Battery giant CATL's founder Robin Zeng Yuqun ranked third with US$57.3 billion, up 17 per cent, while internet giant Tencent's Pony Ma Huateng slipped to fourth as his wealth plunged 26 per cent to US$51.5 billion. Hoogewerf noted that AI and hardtech fortunes are replacing wealth built from traditional sectors like retail and real estate.
"Today, for the first time ever, not a single mainland property developer remains in the Top 100 — the only property names left at the top are the Hong Kong landlord families," Hoogewerf said. A decade ago, one in three of the top 100 were in real estate, reflecting the sector's dominance during China's urbanization drive.
