Zhang Yiming reclaims China's richest person title following AI focus
Business
Zhang Yiming, founder of ByteDance (the company behind TikTok), just took back the title of China's richest person with a $100 billion fortune.
His big leap comes from ByteDance's strong focus on artificial intelligence, which has been a game-changer for the company and helped boost his wealth.
China has 1,176 billionaires
China now has more billionaires than the US 1,176 in total, with ByteDance founder Zhang Yiming topping the list.
The rise of ByteDance's AI assistant Doubao shows how tech is powering China's growth, even as traditional sectors like real estate are struggling to keep up.