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China's tech billionaires

China's tech billionaires
The latest news, analysis and opinion on China's tech billionaires. In-depth analysis, industry insights and expert opinion.
last updated:
9 September, 2024
Shanghai-based miHoYo is the creator of Genshin Impact, which in 2020 had the biggest international launch of a Chinese video game. Photo: Shutterstock
Video gaming

Genshin Impact creator miHoYo’s co-founder sees AI upending video-gaming jobs

‘For game developers – ranging from average to professional – we might as well consider switching careers,’ miHoYo co-founder Cai Haoyu said in a LinkedIn post.

E-commerce

As Shein chases IPO, its Chinese founder stays under cloak of secrecy

E-commerce

JD.com billionaire founder blasts underperforming employees

Fintech

ByteDance profit surges 60% to US$40 billion, outpacing Tencent on TikTok fame

ByteDance’s earnings before interest, tax, depreciation and amortisation jumped 60 per cent last year to more than US$40 billion, while sales grew by about 50 per cent to US$120 billion, people familiar said.

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ByteDance is cementing its status as one of China’s fastest growing tech juggernauts. Photo: Shutterstock Images
Alibaba

Exclusive | Jack Ma, Joe Tsai replace SoftBank as Alibaba’s largest shareholders

The combined stakes of the two co-founders eclipsed SoftBank Group, which has reduced its shares in Alibaba through a series of forward contracts.

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JD.com

Hurun clarifies ranking of JD.com founder’s wife Zhang in Tsinghua rich list

Hurun clarifies that Zhang Zetian’s ranking on university rich list was compiled on the basis of her joint wealth with husband and JD.com founder Richard Liu.

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Millionaires and billionaires

Chinese tech billionaires move up Hurun 2023 Rich List amid internet rebound

Chinese tech founders moved up in this year’s Hurun Rich List although macroeconomic headwinds in China kept overall wealth gains in check.

Chinese tech billionaires move up Hurun 2023 Rich List amid internet rebound. Photo: AFP
E-commerce

JD.com denies that founder Richard Liu and wife have moved to US

The Chinese e-commerce giant has also rejected rumours that the couple bought more than US$100 million worth of luxury property in the US.

Millionaires and billionaires

10 of the world’s youngest billionaires in 2023, ranked – but who’s No 1?

This year’s youngest billionaires hail from all over, from Norwegian heiresses Katharina and Alexandra Andresen to China’s Wang Zelong and America’s Ryan Breslow – but who’s actually self-made?

ByteDance

TikTok parent’s founder sets up investment fund in Hong Kong

Zhang Yiming’s Cool River Venture, incorporated on Monday, will invest mostly in technology-related industries, according to sources.

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Zhang Yiming, founder and former CEO of ByteDance, poses for a photo in Beijing in 2019. Photo: Bloomberg
ByteDance

Low-profile founder of TikTok owner ByteDance emerges to make new donation

The entrepreneur is adding nearly US$29 million to a charitable education fund in his hometown, his first bout of publicity since 2021.

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Zhang Yiming (centre) visits his old school Yongding No 1 Middle School in southwestern Fujian province in June 2021. Photo: Longyan Education Bureau
China’s internet censorship

China’s online watchdog promises to boost protections for private firms

Cyberspace Administration of China says work priorities include advancing online business environment and protecting enterprise and entrepreneur rights.

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Millionaires and billionaires

Crypto’s biggest losers: 5 billionaires who lost the most money in 2022

The burgeoning cryptocurrency industry was always going to be risky, but for its daring and sometime controversial founding fathers, 2022’s crash has lost them billions

Millionaires and billionaires

China’s tech titans give away billions to heed ‘common prosperity’ call

Common prosperity first emerged as a concept in the 1950s after the establishment of the People’s Republic, but has surged in prominence in the past year as China seeks to narrow the nation’s wealth gap.

China’s top 10 philanthropists gave away 6.3 per cent of their total wealth, or around US$8.7 billion, according to Hurun Report. Photo: EPA.
E-commerce

Chinese tech tycoon Richard Liu remains powerful at JD.com after legal saga

While Liu has given up numerous roles at JD.com, his influence remains unchallenged at the sprawling business empire he founded a quarter century ago.

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Richard Liu, founder of Chinese e-commerce company JD.com. Photo: Reuters
ByteDance

ByteDance builds school of digital economy in founder’s hometown

The ByteDance School of Digital Economy Industry was established last week under a local vocational college in Longyan, Fujian province.

Banking & finance

Binance founder CZ sues Modern Media for libel in Hong Kong

Modern Media is the publisher of the Chinese edition of Bloomberg BusinessWeek in Hong Kong under a licensing agreement.

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NetEase

NetEase and Xiaomi CEOs relinquish corporate roles at gaming entities

The moves from part of a growing trend of Chinese Big Tech leaders moving away from front-office roles amid Beijing’s tightened scrutiny.

NetEase CEO William Ding Lei has stepped down from multiple roles at the company’s video gaming unit. Photo: VCG via Getty Images
Macroscope

Macroscope | Why stock markets must stop acting like casinos, especially in Asia

With big wins for a few and not much for the rest, stock markets are attracting massive funds from the economy but meeting none of its real needs. These range from SME support and repairing supply chains, to climate mitigation and infrastructure building.

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Millionaires and billionaires

China’s billionaire population shrinks amid tech, property crackdowns

The ranks of the ultra-wealthy in mainland China slipped slightly last year as wealth creation was subdued by Beijing’s crackdowns on the technology and property sectors, according to a study by New York-based Wealth-X.

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China economy

Tesla supplier CATL leaves investors in pain as stock skids

With car production under duress from Covid-19 measures in China and prices of lithium surging amid tight supply, analysts have started to dial back their bullish forecasts and price targets for CATL.

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CATL’s smart-manufacturing facility in Ningde, China. The EV battery maker faces a margin squeeze as lithium prices surge. Photo: Company website
NetEase

NetEase CEO cuts back on corporate duties amid China’s tightened tech regulation

William Ding, founder and chief executive of NetEase, joins other Big Tech leaders in China who have scaled back their corporate duties amid the industry’s tightened regulatory regime.

Nasdaq-listed NetEase, which runs China’s second-biggest video gaming operation, is involved in a range of popular domestic online services. Photo: Shutterstock
China’s Communist Party

Does China’s goal of common prosperity leave room for the super-rich?

After a campaign to curb what President Xi Jinping called the ‘disorderly expansion of capital’, entrepreneurs await signs that they still have a role to play.

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United States

Opinion | What divergent fates of Chinese and American billionaires tell us

While the presidents of both countries have pledged to deal with growing inequities, the US’ capitalist ethos makes government intervention a hard sell. In contrast to the flamboyant space voyages of US billionaires, China’s wealthy have been put on notice.

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Jack Ma

Amperex, ByteDance founders amass wealth in market’s worst year since 2008

Robin Zeng of EV battery maker CATL garnered the biggest gain in wealth this year, even as the broader market suffered its worst beating since 2008. The founders of ‘ATM’ tech trio lost a combined US$29 billion.

Pedestrians walk along the Bund in Shanghai on December 28 with the city’s financial district in the background. Photo: Bloomberg
NFTs

Artists, cryptocurrency firms use NFTs for philanthropic causes

Creators and artists are leveraging NFTs and the blockchain to raise funds from digital collectibles, then donating part of the proceeds to charitable causes.

A visitor looks at NFT digital artworks at the Millon Belgique auction house, in Brussels on May 18, 2021. Photo: AFP
Millionaires and billionaires

TikTok’s Zhang Yiming is China’s richest person under 40, says Hurun

ByteDance’s Zhang Yiming is likely to become the next richest person in China, Hurun says.

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China economy

Opinion | How China can avoid the excesses of unrestrained Western capitalism

China and the West face similar challenges – widening income disparities, powerful Big Tech firms, deepening societal divide. The difference is that China is tackling them head-on as it transforms into a modern socialist economy.

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