China’s wealthiest individuals experienced an unprecedented surge in net worth in 2025, driven by a powerful stock market rally and renewed optimism regarding government stimulus measures. According to the latest Forbes ranking of China’s 100 Richest, the collective fortune of this elite group swelled by $320 billion, reaching a staggering total of $1.35 trillion, up from $1.03 trillion the previous year. This remarkable growth saw two-thirds of list members substantially increase their wealth, underpinned by a 15% rise in the benchmark CSI 300 index since the last assessment.
Bottled Water Billionaire Retains Top Spot
For the fifth consecutive year, Zhong Shanshan, founder of bottled water giant Nongfu Spring, secured the number one position. Shanshan recorded the largest absolute gain on the list, adding $26.3 billion to his fortune, which now stands at $77.1 billion. This success follows stellar performance in the first half of 2025, with Nongfu Spring reporting double-digit growth in both revenue and net profit.
The technology sector remained a key driver of wealth accumulation. Zhang Yiming, co-founder of ByteDance, climbed to second place with a net worth of $69.3 billion after adding $23.7 billion. His fortune was significantly boosted by the successful avoidance of a U.S. shutdown for TikTok, which secured approval for a new joint venture structure featuring majority American ownership in September.
Meanwhile, internet heavyweight Tencent’s CEO, Ma Huateng, slipped one rank to third, despite his wealth increasing by over a third to $62.8 billion. Tencent shares jumped more than 40% on the back of robust gaming sales and higher advertising revenue for its omnipresent Weixin (WeChat) platform.
Rounding out the top five are CATL founder Robin Zeng, who secured fourth place with $53.5 billion following a $16.4 billion increase, and NetEase’s William Ding, whose fortune rose to $47.5 billion from $27.4 billion last year.
AI and Collectibles Create New Billionaires
The list saw new entrants and significant jumps fueled by disruptive sectors. The largest percentage gainer was Wang Ning of Pop Mart, who sits at No. 13. His wealth more than quadrupled to $22.2 billion, capitalizing on the global craze for collectible figures, particularly the popular Labubu series.
Artificial intelligence also played a vital role in elevating fortunes. Chen Tianshi, chief of Cambricon Technologies, nearly tripled his wealth to $21 billion (No. 15). The AI chipmaker, dubbed “China’s Nvidia,” reported its first-ever half-year net profit since its 2020 initial public offering.
The AI wave introduced notable newcomers, including DeepSeek founder Liang Wenfeng (No. 34; $11.5 billion), whose firm’s low-cost AI model launch in January invigorated Chinese tech shares. Range Intelligent Computing Technology Group founder Zhou Chaonan also debuted at No. 85 with $5.3 billion, riding the growth wave of data center infrastructure.
Industry Shifts and Notable Exits
While many celebrated massive gains, not all sectors prospered. Wang Xing of Meituan posted the steepest decline among the main list members, seeing his net worth shrink by over 42%, or $6.2 billion, to $8.4 billion (No. 55). Meituan’s margins were heavily pressured by intense competition from e-commerce rivals such as Alibaba and JD.com.
The list’s minimum entry threshold climbed to $4.6 billion, up from $3.9 billion a year prior, indicating broad-based wealth expansion across sectors like energy, consumer goods, and technology. However, property developers faced continued challenges. Fourteen former members fell off the list entirely, including former front-runner Wang Jianlin of Dalian Wanda Group, whose property empire continues to shed assets amid a widespread liquidity crunch in the sector.
The resilience of China’s top entrepreneurs, particularly those in the consumer and tech spheres, underscores investors’ renewed confidence in the country’s innovation capabilities and the lasting strength of its domestic consumption market. Global economic watchers will closely monitor whether this growth rate can be sustained against potential market volatility.