With Chinese tech companies such as Tencent and ByteDance - TikTok The parent company, known for leaving its imprint both domestically and globally, has seen its founders frequently featured among the nation’s wealthiest individuals. Despite the swift expansion of China's tech industry, Forbes’ 2024 ranking shows that the country’s top billionaire accumulated wealth primarily through one of the most essential resources: water.
In this section, we examine the leading figures from the corporate world who head China’s wealthiest lists and identify which sectors remain robust amid the nation’s evolving economic landscape.
5. Robin Zeng
Net worth: US$37.1 billion
Taking advantage of the transition toward clean energy and the increasing demand for electric vehicles, Robin Zeng, who founded, chairs, and leads Contemporary Amperex Technology (CATL), has risen to become the fifth wealthiest individual in China just over ten years since launching the firm. CATL provides batteries to automobile manufacturers such as BMW. Tesla along with Volkswagen, and the Chinese company Geely.
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Even though the firm’s revenues declined last year, it still saw an increase in net profits by 15 percent due to reduced costs for raw materials, as reported by the Hurun Report. Holding nearly a 40 percent stake in the power-battery sector, Zeng, who is 57 years old, has shown no intention of slowing down. During a recent talk with Reuters, he disclosed ongoing intentions to construct facilities within U.S. territory should President Donald Trump approve Chinese investments into America’s electric vehicle sector.
4. Colin Huang
Net worth: US$43.9 billion
Within just twenty years of starting his career at Google In 2004, Colin Huang, who was 44 years old at the time, had risen to become the fourth wealthiest individual in China.
In 2015, when software engineer Huang established Pindoudou, the online retail sector was already dominated by giants like Alibaba and JD.com, according to China Business Knowledge. Under Huang’s leadership, his e-commerce venture—renamed as PDD Holdings in 2023—grew into one of the biggest players in the nation. Additionally, the firm debuted the shopping portal Temu in 2022, directly competing with major online retailer Shein, as reported by Forbes.
In 2021, Huang resigned from his position as the chairman of the company, although he continues to be a significant stakeholder. At one point, he was recognized as the wealthiest individual in China. However, following a decline of nearly 29 percent in share values last August, he experienced a loss of $14 billion, according to Bloomberg reports.
3. Zhang Yiming
Net worth: US$45.6 billion
Zhang Yiming’s video-sharing app TikTok has conquered the globe in under ten years since he founded the parent company ByteDance from his Beijing apartment, reshaping the digital landscape for a whole generation of online users.
The company has amassed more than a billion users worldwide and operates a separate platform, Douyin, for users in China. It made headlines this year when it failed to overturn an American law that would force the US version of the app to be controlled by American interests or face being banned in the country. TikTok was briefly suspended in the US in January but went back online in less than a day. Trump issued an executive order suspending the prohibition for 75 days, after which it became available again for download in app stores.
At the age of 41, Zhang stepped down as both CEO and chairman in 2021 due to speculations about governmental pressures from China, and he currently resides in Singapore. In an open letter disclosing his choice, Zhang mentioned feeling inadequate in certain managerial abilities required for the role.
2. Ma Huateng
Net worth: US$46.8 billion
Ma Huateng’s shareholding in the media giant Tencent Holdings positions him among the richest individuals in China. Founded in 1999 as an internet messenger service called QQ, which reportedly drew inspiration from ICQ—one of the pioneering chat applications—Tencent later expanded into various sectors including online gaming and financial services. In 2011, the company launched WeChat, a mobile application that currently boasts over a billion active monthly users.
In addition to driving him toward substantial riches, QQ assisted Ma, who is 53 years old and goes by the English name Pony, in finding genuine love. It’s said that Ma met his spouse, Wang Danting, in an online chatroom following the launch of the messaging platform.
1. Zhong Shanshan
Net worth: US$50.8 billion
Forbes presents Zhong Shanshan’s journey as a quintessential tale of rising from poverty to great prosperity. Having left school early, Zhong took on various roles—including work in construction, journalism, and beverage sales—before founding his own enterprise, Nongfu Spring, now the leading provider of bottled water in China. Additionally, according to Bloomberg, Zhong has amassed significant wealth through his ownership stakes in Beijing Wantai Biological Pharmacy Enterprise, a firm known for producing medical test kits and vaccines.
Becoming the wealthiest person in China has made Zhong, who is 70 years old, unafraid to express his views openly. During a public gathering last November, he criticized major technology companies like PDD and ByteDance—blaming PDD for promoting price wars that hurt domestic businesses in China, and accusing ByteDance of failing to prevent smear campaigns against Nongfu Spring on their platforms. In response, Zhong demanded a formal apology from ByteDance’s CEO, Zhang Yiming, over what Zhong claimed was damage caused by Douyin and ByteDance’s news outlet, Toutiao.
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