(Text/Wan Zhaosheng, editor/Lu Dong)
Liang Wenfeng made his debut on the Hurun China Rich List, ranking among the top ten, thanks to the valuation growth of artificial intelligence company DeepSeek.
On October 27, Hurun Research Institute released the “2026 Hurun Rich List”, in which DeepSeek founder Liang Wenfeng ranked seventh with an estimated wealth of 280 billion yuan, becoming the new entrant with the most wealth this year.
In addition to Liang Wenfeng, Yushu Technology founder Wang Xingxing also entered the list for the first time with 69.5 billion yuan, and Zhipu’s Liu Debing and Tang Jie entered the list with 39.5 billion yuan and 27.5 billion yuan respectively.
Liang Wenfeng entered the list for the first time
The rise in Liang Wenfeng’s wealth valuation is closely related to DeepSeek’s shift to obtaining external capital support.
In July this year, A-share listed company Korrun issued an investment progress announcement, disclosing that it invested 2.9 billion yuan to indirectly acquire approximately 0.8265% of DeepSeek’s equity through an equity investment platform. From this extrapolation, DeepSeek’s valuation at that time had reached 350.9 billion yuan.
On October 22, Reuters quoted people familiar with the matter as saying that DeepSeek’s latest round of financing reached approximately 100 billion yuan, with a pre-money valuation of approximately 500 billion yuan. Tencent, CATL and other companies participated in the investment.
It is worth noting that the Hurun Rich List’s wealth calculation deadline is September 1, which is earlier than the public report of DeepSeek’s latest round of financing news. Therefore, Liang Wenfeng’s personal wealth ranking on the list may be higher than actual.
In response to the fact that Liang Wenfeng was only included in China’s 100 Rich List this year, Hurun Group Chairman Hurun explained that the core reason why Liang Wenfeng was not included in the list last year was related to his previous proposal of “non-commercialization”.
Ifeng.com Technology learned from people familiar with the matter that since DeepSeek became popular, Liang Wenfeng has been traveling between Beijing and Hangzhou for a long time. These are the two main offices of DeepSeek. In addition, he occasionally goes to Shenzhen. In Beijing, Liang Wenfeng lives in a rented house. The room layout has always been relatively simple and he has not put much thought into decoration.
In the past, Hangzhou was the place where he started. Zhejiang University, Huanfang Quantitative, and then the founding of DeepSeek in 2023 all started from Hangzhou; Beijing is the focus of the current team and financing promotion. Most of DeepSeek’s algorithms are also based in Beijing, and part of the infra-focused team is in Hangzhou.
The total wealth of those on the list reached 32 trillion yuan
According to data from the Hurun Research Institute, a total of 1,529 entrepreneurs with a wealth of 5 billion yuan are on the list this year, an increase of 95 from last year and a record high. The total wealth of those on the list reached 32 trillion yuan, a year-on-year increase of 7%.
Zhong Suisui, the founder of Nongfu Spring, who ranked first last year, saw his wealth drop by 120 billion yuan to 410 billion yuan, relegating him to second place. Although Nongfu Spring’s main business remains relatively stable, the correction in Wantai Biological’s stock price still drags down its overall wealth valuation.
In addition, CATL founder Zeng Yuqun’s wealth increased by 55 billion yuan, ranking third with 385 billion yuan, while Tencent founder Ma Huateng fell to fourth place with 346 billion yuan due to a decrease of 119 billion yuan in wealth.
This year, the wealth of Chen Jianhua and Fan Hongwei of Hengli Group increased by 112 billion yuan to 302 billion yuan, ranking among the top ten for the first time. Chen Tianshi, the founder of Cambrian, also rose eight places in the ranking, ranking tenth with 205 billion yuan.
At the same time, some entrepreneurs whose wealth grew rapidly last year have seen a significant decline this year.
According to the list, Xiaomi founder Lei Jun’s wealth dropped from 326 billion yuan in 2025 to 169 billion yuan in 2026, a decrease of 157 billion yuan, a shrinkage of about 48.2%. He fell out of the top ten and became one of the entrepreneurs with the largest wealth shrinkage on this year’s list.
Because a large part of Lei Jun’s wealth comes from his shares in Xiaomi Group. Hurun Research Institute pointed out that the drop in Xiaomi’s stock price was the direct cause of Lei Jun’s sharp decline in wealth. At the same time, the huge upfront investment in the automobile business is also one of the reasons.
In addition, the Wang Ning family, the founder of Bubble Mart, gained popularity in the global market last year due to its trendy products such as LABUBU. Their wealth increased by 154.5 billion yuan, but this year it decreased by 94.5 billion yuan.
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