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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.
We explain why tech billionaires enjoy rock star treatment in China, and why their warm reception in China is often stronger than in the US. Photo: SCMP composite/Shutterstock/Weibo
Trending in China

Why tech billionaires enjoy rock star treatment in China compared to the US

From personal foibles to that particular look or ability to charm, the business success of global moguls can rest on setting a narrative.

China’s private sector

China’s growing young billionaire class masks innovation hurdles, analysts say

Millionaires and billionaires

Mainland China’s billionaire count surges as BYD and Mixue bosses power gains

Alibaba

Jack Ma’s Alibaba visit sparks nostalgia over company’s humble start

A cheerful mood at Alibaba’s annual event for friends and family, as the company navigates business challenges.

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Jack Ma, founder of Alibaba, visits the company’s campus in Hangzhou, Zhejiang province, on Friday. Photo: Handout
E-commerce

JD.com boss delivers food in publicity stunt to challenge Meituan

The move reflects the e-commerce giant’s commitment to expanding its recently launched food delivery business, analysts say.

Banking & finance

CEO Lei Jun sees progress as Xiaomi raises 2025 EV deliveries target by 16%

Xiaomi is entering the high-end segment of the EV market and also eyeing overseas sales as it ramps up production.

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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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A view of Kowloon, looking across Victoria Harbour. Photo: Elson Li
China's economic recovery

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

The Chinese president brought together the heads of leading businesses – including Alibaba’s Jack Ma – for the first time since 2018.

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Alibaba

Jack Ma tours Alibaba’s Freshippo supermarket in central China

The Alibaba founder was spotted visiting one of the company’s grocery stores just days after visiting its Hangzhou campus.

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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Fuyao University of Science and Technology is one of several new institutions set up using donations from China’s business elite. Photo: Handout
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.

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

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

Shein’s office building in the suburbs of Guangzhou, capital of China’s southern Guangdong province. Photo: Iris Deng
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.

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

JD.com chairman Richard Liu Qiangdong and wife Zhang Zetian at Princess Eugenie’s wedding. Photo: YouTube
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.

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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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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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

Changpeng Zhao, Sam Bankman-Fried and Brian Armstrong have all lost billions in the so-called Crypto Winter. Photos: @changpengzhao/Instagram, Bloomberg, Reuters
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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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.

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