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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.
A view of Kowloon, looking across Victoria Harbour. Photo: Elson Li
Mainland China

Hong Kong still among world’s top wealth hubs, according to Knight Frank report

There were an estimated 42,715 high-net-worth individuals in Hong Kong last year, making up around 0.6 per cent of the city’s population.

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China's economic recovery

What happened when Xi Jinping met entrepreneurs for a ‘high-stakes symposium’?

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Alibaba

Jack Ma tours Alibaba’s Freshippo supermarket in central China

Alibaba

Jack Ma visits Alibaba’s AI-powered second-hand marketplace

Alibaba has been using the online flea market as a testing ground for its rapidly improving AI technologies.

Alibaba founder Jack Ma (fifth from left) visits the offices of second-hand goods platform Xianyu in Hangzhou, capital of Zhejiang province, on Tuesday. Photo: Handout
China's economic recovery

China’s super-rich have a new must-have possession: their own university

For China’s billionaires, founding new universities offers a chance to make money – and demonstrate they are ‘politically correct’.

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China technology

Chinese software firm Yonyou picks former senior SAP executive as new president

Huang Chenhong is the latest multinational veteran to join China’s tech sector, as these firms scale back operations on the mainland.

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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.

Shanghai-based miHoYo is the creator of Genshin Impact, which in 2020 had the biggest international launch of a Chinese video game. Photo: Shutterstock
E-commerce

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

Even by the standards of Chinese tech business leaders, the lack of public information about Xu Yangtian is unusual.

E-commerce

JD.com billionaire founder blasts underperforming employees

Richard Liu lashes out at employees as the Chinese e-commerce giant tries to run a tighter ship amid rising competition and a weak economy.

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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Joe Tsai (first left) and Jack Ma (second left) during the initial public offering of Alibaba Group Holding on the New York Stock Exchange on September 19, 2014. Photo: Reuters.
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.

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.

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.

JD.com founder Richard Liu Qiangdong. Photo: Reuters
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?

The world’s youngest billionaires Alexandra Andresen, Leonardo Maria Del Vecchio, Wang Zelong and Katharina Andresen. Photos: @alexandraandresen, @leonardo_mdv, @kgandresen/Instagram; Sohu
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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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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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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The Cyberspace Administration of China says it will guide websites and platforms on how to inspect content and accounts and promptly remove information identified as rumour or an infringement of entrepreneurs’ privacy. Photo: Bloomberg
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.

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.

Zhang Yiming, founder of ByteDance, poses for a photograph in Beijing. Photo: Bloomberg
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.

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.

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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Traders work on the floor of the New York Stock Exchange on June 13. Markets need to change their perspective, and a bear market may force such a change. Photo: AP
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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The number of billionaires in mainland China slipped slightly last year. Photo: Shutterstock
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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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.

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