China’s billionaire count rises by 70

The combined net worth of its billionaires went up 22% year-on-year to US$1.77 trillion, according to the Billionaire Ambitions Report 2025 report by Swiss lender UBS, which uses data in the 12-month ending April.

As the country with the second largest number of billionaires globally behind the U.S., China has seen its wealth creation fueled by technology, said Amy Lo Choi-wan, chairman of UBS global wealth management Asia and CEO of UBS Hong Kong.

"Asia-Pacific markets are broadly benefiting from the artificial intelligence trend and technological developments," Lo said, as reported by South China Morning Post.

"China’s policy focus on quality growth through innovation and tech localization is expected to support the entire industry and its founders."

Hong Kong saw its billionaire headcount adding two to 76, while Taiwan’s figure increased by four to 51.

Zhang Hongchao and Zhang Hongfu, founders of the fast-food restaurant chain Mixue Ice Cream & Tea, became billionaires after a March 2025 initial public offering on the Hong Kong SAR Stock Exchange crystallized their wealth.

Justin Sun, the crypto entrepreneur behind the TRON blockchain, gained from the rising value of his digital asset investments.

And Hao Tang, a pre-IPO investor in the Hong Kong SAR- based AppLovin marketing software and games company has gained from appreciation in its share price.

UBS estimated that heirs in mainland China, Hong Kong and Taiwan are set to inherit at least US$407 billion over the next 15 years.

Globally, self-made billionaire wealth hit a record US$15.8 trillion in 2025, rising 13% year on year, the fastest increase since 2021.

U.S. billionaire wealth reached $6.9 trillion, up 18%. The country added 89 new billionaires, bringing the total to 924, nearly one-third of the global total.