Liang Wengfeng propels rise of China's self-made young billionaires

DeepSeek, a Chinese artificial‑intelligence lab, completed a funding round that valued the company at $71 billion. Its founder, Liang Wengfeng, saw his personal wealth surge to roughly $38 billion, outpacing peers such as Dario Amodei of Anthropic and Sam Altman of OpenAI.

According to the Hurun Report, at least 30 self‑made Chinese billionaires are now aged 40 or younger, nine more than a year earlier. Most have built fortunes in consumer goods, media and fast‑growing tech ventures rather than traditional real‑estate speculation. This new generation favours video games, anime and innovative ideas, marking a cultural shift from earlier cohorts who amassed wealth through state‑linked enterprises and property development.

The trend reflects the broader evolution of China’s high‑tech sector, with young entrepreneurs rapidly scaling global businesses and reshaping the country’s billionaire landscape.