The number of fortunes above 100 billion yuan (12 billion euros) rose from 26 to 41, an increase of 59%. The total number of people with assets above one billion dollars (857 million euros) increased by 36%, to 1,021.
China saw a record increase in the number of billionaires in 2025, with a new entry every day, driven by the appreciation of stock markets and the rise of companies in the so-called “new economy”, according to the Hurun research unit.
The latest edition of “Hurun China Rich List” includes 1,434 individuals with fortunes exceeding five billion yuan (around 601 million euros), 340 more than last year, which represents a growth of 31%.
The combined wealth of these billionaires totals 30 billion yuan (almost 3.6 billion euros), a increase of 42% compared to the previous year.
At the top of the list was Zhong Shanshan, founder of bottled water producer Nongfu Spring, whose fortune soared 56% to 530 billion yuan (64 billion euros). It is the fourth time that Zhong has led the ranking.
Zhang Yiming, fundador da ByteDance – company that owns TikTok – fell to second place, despite increasing its fortune by 34%, to 470 billion yuan (56 billion euros).
Li Ka-shing, 97, and his son Victor Li Tzar-kuoi, 61, continue to be the richest in Hong Kong, with a combined fortune of 235 billion yuan (28 billion euros), 18% more than last year, although they fell from sixth to ninth place in the overall table.
The Hurun investigative unit has been compiling this list since 1999, covering billionaires from mainland China, Hong Kong, Macau and Taiwan.
“This year’s list surprised by reaching a record number, driven above all by the strong performance of the stock markets and the emergence of new figures in the technology and export sectors”, said Rupert Hoogewerf, president of Hurun.
Number of fortunes above 100 billion yuanrose from 26 to 41
The number of fortunes above 100 billion yuan (12 billion euros) rose from 26 to 41, an increase of 59%. The total number of people with assets above one billion dollars (857 million euros) increased by 36%, to 1,021.
Stock appreciation in Shanghai, Shenzhen and Hong Kong reflected investor enthusiasm for sectors such as electric vehicles, biotechnology and computing. The Shenzhen index rose 54% and the Shanghai index 36% through September. Hong Kong’s Hang Seng advanced 42%.
O China’s GDP grew 4.8% in the third quarter, less than the 5.2% recorded in the previous quarter. Trade tensions with the United States and problems in the real estate sector continue to weigh on the economic recovery.
Still, Chinese companies with global ambitions – particularly in the areas of batteries, healthcare and mining – have attracted market interest.
By the end of September, 66 companies (mostly from mainland China) had raised US$23.27 billion (€19.95 billion) through initial public offerings on the Hong Kong Stock Exchange, the largest figure in the world this year.
