China’s stock markets have been on a roll, as the country’s AI advances fueled investor optimism. The Hang Seng Index was up 10% since last year’s list of the World’s Billionaires, while the CSI 300 Index — which tracks 300 stocks listed in Shanghai and Shenzhen bourses – rallied nearly 20%. Despite the Iran War-induced volatilities, onshore shares may rise further and enter a “slow bull” market, as earnings improve amid Beijing’s efforts of curbing excessive competition and price wars in sectors ranging from electric vehicles to food delivery, according to UBS Securities in March.

Amid all this market optimism, the collective fortune of Chinese billionaires on Forbes’ annual ranking reached nearly $2.2 trillion—close to the record $2.5 trillion set in 2021, before the pandemic and private-sector crackdowns decimated the market value of many technology giants. This year’s collective wealth is up 31% from $1.68 trillion in 2025, and $1.33 trillion two years ago.

In 2026, there are 539 mainland Chinese members of the three-comma club, up from 450 last year and also higher than the 406 reached in 2024. AI-related sectors minted several notable newcomers such as Liu Debing. With an estimated fortune of $9.1 billion, the 50-year-old chairman of Hong Kong-listed AI model developer Knowledge Atlas Technology (better known as Zhipu) is China’s richest newcomer. Mainland China accounts for the second-largest number of billionaires globally, behind the U.S., which has 989 billionaires.

Mainland China doesn’t include passport holders from Hong Kong, whom Forbes lists separately. Robin Zeng, the founder of Hong Kong- and Shenzhen-listed battery giant Contemporary Amperex Technology(CATL), is the richest tycoon in the Asian financial hub. Zeng’s fortune of $53.2 billion tops that of revered business titan Li Ka-shing, who has a net worth of $47 billion based in part on stakes in Hong Kong-listed conglomerates CK Hutchison Holdings and CK Asset Holdings. Counting those billionaires outside the mainland, greater China has 610 members, up from 516 last year and 473 in 2024. In all, there are 3,428 billionaires on the planet, worth a collective $20.1 trillion.

While 23 Chinese citizens dropped off from last year, , including five deceased billionaires, there are 52 newcomers and 60 returnees, or members who made the list in the past, fell off and have now returned to the ranks. Besides Liu, MiniMax Group’s Yan Junjie also made his debut thanks to AI. The chairman and CEO of the Hong Kong-listed AI Model company has amassed a fortune of $7.2 billion, as his firm is among a cohort of Chinese upstarts seeking to challenge OpenAI and Nvidia amid Beijing’s efforts to build its own tech prowess.

Just last week, authorities reaffirmed support for sectors including AI, robotics and biotechnology during the national parliament meetings, hoping that they can become new growth drivers for an economy facing its slowest expansion in decades. The 2026 gross domestic product growth target has been set at a range of 4.5% to 5%—the lowest since 1991—amid challenges from lackluster consumption to geopolitical headwinds.

The ten richest Chinese citizens, meanwhile, are worth a collective $414.5 billion, up from $400.5 billion last year, and higher than $304 billion in 2024. ByteDance founder Zhang Yiming, who has a net worth of $69.3 billion, continues to be the country’s richest person. In January, a deal over TikTok ownership was finalized–including handing over control of the short video platform’s U.S. operations to a group of Trump-approved investors. ByteDance is expected to have a minority stake in the new joint venture set up to manage TikTok’s U.S. business.

Zhong Shanshan, the chairman of beverage giant Nongfu Spring, follows as a close second with a fortune of $68.1 billion. The third place goes to Tencent Chairman Ma Huateng. With a net worth of $53.8 billion, the mogul is stepping up efforts to compete with fellow tech giants in luring users to their respective AI-powered digital assistants. Together with the likes of Alibaba Group Holding and ByteDance, they shelled out $1.1 billion in subsidies combined during the week-long Lunar New Year holiday in February, offering discounts and coupons to consumers who used their AI chatbots to buy movie tickets and order meals, according to Morgan Stanley’s estimates.

Here are the 10 richest Chinese citizens on the 2026 World’s Billionaires list.

NET WORTHS ARE AS OF MARCH 1, 2026

Source of wealth: Mining | Residence: Shanghai | Net worth: $25.4 billion (vs. $10.7 billion)

The chairman and CEO of Shanghai-based investment firm Cathay Fortune Corp is the biggest gainer among China’s top ten richest billionaires. The 65-year-old mogul’s net worth rose 137%, thanks largely to a minority stake his privately held company has amassed in Shanghai- and Hong Kong-listed copper and molybdenum mining giant CMOC Group. CMOC has rallied over 200% in Shanghai and almost 300% in Hong Kong over the past year, as copper prices soared amid rising demand from the construction of AI data centers worldwide.

But this March, a Brazilian court blocked the transfer of mineral rights tied to a gold asset sale in the South American country to CMOC, throwing curveballs to a $1 billion deal it struck two months ago with Canadian gold miner Equinox Gold. In an emailed statement to Forbes, an Equinox Gold spokesperson says the sale was conducted “in full compliance with Brazilian law and all contractual obligations.” CMOC didn’t respond to a request for comment. A conciliation meeting has been scheduled for March 30.

Source of wealth: Smartphones, automobiles | Residence: Beijing | Net worth: $27.9 billion (vs. $43.5 billion)

Xiaomi cofounder Lei Jun is the biggest decliner in China’s top echelon of tycoons, as the 56-year-old’s net worth dropped by more than one third. The Hong Kong-listed technology giant is facing challenges on two fronts. Its bread-and-butter smartphone business is contending with higher memory chip prices, as demand – again from AI – has led to a global shortage of the product. Meanwhiletime, the newer EV unit is still battling intense competition at home, where the phasing out of government subsidies has slowed demand. To attract more customers, Xiaomi will launch a new version of its SU7 electric sedan in April. With a price of about $45,000, the model is expected to come with features such as new colors, faster charging and additional safety measures.

Source of wealth: E-commerce | Residence: Hangzhou | Net worth: $29.1 billion (vs. $28.6 billion)

Alibaba cofounder Jack Ma visited the Yungu School in Hangzhou last week to discuss how the younger generation might be better prepared for a future of AI. The private school, fully financed by company management, also welcomed senior executives including Alibaba Chairman Joseph Tsai and CEO Eddie Wu. The e-commerce giant, which hiked its AI-related budget to over $50 billion late last year, is one of China’s most aggressive corporate spenders on the technology. A task force that includes Wu has been formed to oversee AI research and development, according to an internal message seen by Forbes. Ma, 61, stepped down as chairman in 2019 but still holds a stake in the company.

#7. He Xiangjian & family

Source of wealth: Home appliances | Residence: Foshan | Net worth: $33.2 billion (vs. $27 billion)

He Xiangjian, 83, stepped down as chairman of home appliance giant Midea Group in 2012, but still derives his wealth primarily from a company stake. Dual-listed in Shenzhen and Hong Kong, Midea has been expanding in markets from new energy to robotics. The company plans to spend about $245 million to boost its stake in Shenzhen-listed solar company and components maker Hiconics Eco-energy Technology to 35.1%.

#6. Zheng Shuliang & family

Source of wealth: Aluminum products | Residence: Bin Zhou | Net worth: $33.2 billion (vs. $15.4 billion)

The vice chairman of aluminum producer China Hongqiao Group is another big beneficiary of the AI-induced commodity price boom. Amid soaring demand for the metal due to new data centers worldwide, the Hong Kong-listed company rallied over 160% during the past year. Zheng, 80, is the widow of Zhang Shiping, who founded Hongqiao in 1994, built the firm into a metals giant during the country’s reform eras before passing away in 2019 at the age of 73. Their son, Zhang Bo, is the aluminum producer’s chairman and CEO.

Source of wealth: E-commerce | Residence: Shanghai | Net worth: $36.6 billion (vs. $ 42.3 billion)

Nasdaq-listed discount retailer PDD Holdings bumped into regulatory hurdles worldwide, sending the net worth of founder Colin Huang down $5.7 billion over the past year. In December, authorities raided the Dublin-based headquarter of its Temu unit amid a crackdown in cheap imports and an investigation into whether Temu received unfair subsidies, according to multiple media reports. At home, parent PDD has been fined $15,000 in January for failing to submit tax information as required, state media reported. This follows a widely reported fist fight with regulators that broke out in its Shanghai office on Dec.3, which led PDD to fire several employees, according to local economic journal Caixin. PDD and Temu didn’t respond to requests for comment.

Source of wealth: Online games | Residence: Hangzhou | Net worth: $37.9 billion (vs. $33.3 billion)

NetEase founder William Ding continued his cuts in gaming investment internationally to focus on a smaller number of titles. The Nasdaq and Hong Kong-listed company will reportedly stop funding Japan’s Nagoshi Studio in May, walking back from a deal previously struck with one of the country’s most famed creators, Toshihiro Nagoshi. In 2025, revenues grew 7% year-on-year to $16.1 billion, while net income rose 13.8% to $4.8 billion. This year, the gaming giant will be counting on new launches such as online adventure game Sea of Remnants to sustain growth, in addition to flagship titles like online battle game the Fantasy Westward Journey franchise and the Eggy Party battle royale game.

Source of wealth: Online games | Residence: Shenzhen | Net worth: $53.8 billion (vs.$56.2 billion)

Ma, the chairman of Chinese internet giant Tencent Holdings, is enjoying success with Delta Force, the company’s newer shooter game that is shaping up to be the next evergreen title after flagship online battle games Honor of Kings and Peacekeeper Elite.

In the third quarter of 2025 (the latest financial information available), Delta Force contributed to a 15% year-on-year growth in revenues to $28 billion, while net profit was up 18% to $10.2 billion from the same period a year ago. But the Hong Kong-listed tech giant is seen as lagging in AI, says Charlie Chai, a Shanghai-based analyst at research firm 86Research. After the subsidy campaign during Chinese New Year, its Yuanbao chatbot has the lowest user retention rate, falling behind Alibaba’s Qwen and ByteDance’s Doubao, according to Morgan Stanley. Yuanbao’s daily active user peaked at 24 million in February, compared with Qwen’s 73.5 million and Doubao’s 108 million, Morgan Stanley estimated. To beef up AI research, Tencent hired former OpenAI researcher Yao Shunyu late last year to lead its recently formed AI infrastructure department.

Source of wealth: Beverages, pharmaceuticals | Residence: Hangzhou | Net worth: $68.1 billion (vs. $57.7 billion)

Nongfu Spring founder Zhong Shanshan is recovering from last year’s public opinion crisis, when nationalist consumers vowed to boycott its bottled drinks as the packaging of certain products supposedly resembled Japanese architecture. In the first half of 2025, sales rose 15.6% year-on-year to $3.7 billion, while profit was up 22.1% to $1.1 billion. As bad publicity fades for the 71-year-old chairman, sales growth is expected to continue. In the second half of the year, revenues at Nongfu Spring’s bottled water unit could grow 14%, while tea drink sales are expected to go up by 20% from a year ago, according to a January research note from Morningstar.

Source of wealth: Internet media | Residence: Singapore | Net worth: $69.3 billion (vs. $65.5 billion)

ByteDance founder Zhang Yiming is China’s richest man for the second year in a row. The TikTok ownership deal has removed a key overhang for the privately held internet titan. ByteDance, meantime, is becoming a dominant force in global AI development. Its Doubao chatbot is the most popular AI-powered digital assistant in China, where 315.3 million users opened it at least once in February, according to Chinese ranking site aicpb.com.

Zhang, 41, stepped down as ByteDance chairman in 2021 but still plays a key role in the company’s AI strategy. ByteDance ignited a global frenzy in February when it launched the Seedance 2.0 AI model, spooking Hollywood with its ability to generate cinema-quality clips based on simple text prompts. “It is happening fast,” wrote Elon Musk, the world’s richest man with a fortune of $839 billion, in February in reaction to an X social media post that demonstrated realistic looking cinema scenes made with the latest Seedance model.

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