Entrepreneurs

China’s “500 Richest” list reveals a thriving economic landscape driven by technology and consumer trends. ByteDance’s Zhang Yiming leads, while others like Pony Ma (Guangdong) and Zhong Shanshan (Zhejiang) also rank high. Collective wealth increased 11% to 13.7 trillion yuan, with average net worth at 27.38 billion. The TMT sector, especially AI and semiconductors, dominates the list, showcasing significant growth and influencing the wealth of many entrepreneurs.

In a speech at Guangdong University of Foreign Studies, New Oriental’s Yu Minhong defended entrepreneurs, distinguishing them from unscrupulous merchants. He cited successes like Liu Qiangdong, Dong Mingzhu, and others, emphasizing their drive to build a better world, not simply accumulate wealth. He also discussed the challenges faced by entrepreneurs highlighting his influence and mentorship, as demonstrated by many former associates establishing their own ventures.