Shenzhen ranks fourth globally for young billionaires

Shenzhen has emerged as one of the world’s leading hubs for young entrepreneurial wealth, ranking fourth globally in the number of self-made billionaires under 40, according to a new global list that underscores the city’s growing influence in technology and innovation.

The Hurun Research Institute on March 10 released its 2026 Hurun U40 Global Self-Made Billionaires List, which identified 108 entrepreneurs aged 40 or younger with fortunes exceeding US$1 billion — a record high.

Among global cities, Shenzhen placed fourth with seven entrepreneurs, trailing only San Francisco, Shanghai and New York.

(From L) Liu Jingkang of Insta360, Lu Yiwen, founder of jewelry brand DR, and Peng Guoyuan, founder of NWY Group, are among the Shenzhen-based entrepreneurs featured on the 2026 Hurun U40 Global Self-Made Billionaires List. File photos

The ranking highlights the southern Chinese tech hub’s expanding role in nurturing young innovators, particularly in emerging sectors such as artificial intelligence (AI), consumer electronics and new consumer brands.

Shenzhen joins global innovation hubs

San Francisco topped the list with 22 young self-made billionaires, followed by Shanghai with 11 and New York with 10. Shenzhen’s seven entrepreneurs put the city on par with well-known technology centers such as Bangalore, Palo Alto and Los Angeles.

Several Shenzhen-based founders featured prominently on the list. Among them are Liu Jingkang and Pan Yaofu, the husband-and-wife team behind the camera technology company Insta360, who debuted on the ranking with a fortune of 28.5 billion yuan (US$4 billion).

Also included were Peng Guoyuan, founder of NWY Group, and Lu Yiwen, founder of jewelry brand DR, whose wealth reached 12.5 billion yuan after growing by 29% over the past year.

The strong showing reflects Shenzhen’s ability to attract young talent and build globally competitive companies in both hard technology and consumer innovation, analysts say.

AI emerges as top wealth-creation engine

The report highlights a dramatic shift in the industries generating the world’s newest fortunes.

AI overtook all other sectors for the first time, producing 27 of the entrepreneurs on the list, about a quarter of the total. Three years ago, none of the entrepreneurs on the list came from the AI industry.

These AI entrepreneurs have an average age of just 32 and collectively hold nearly 700 billion yuan in wealth, making them the youngest and fastest-growing group of billionaires to date.

The world’s richest self-made billionaire under 40 is Edwin Chen, the 38-year-old founder of 

San Francisco-based Surge AI, with a fortune of 135 billion yuan.

He is followed by Brett Adcock, the 39-year-old founder of humanoid robotics company Figure AI, whose wealth surged more than tenfold to 110 billion yuan. Adcock is tied for second place with Wang Ning, founder of Beijing-based toy company Pop Mart.

Hurun researchers noted that 39% of the entrepreneurs built their fortunes through business-to-business services, reflecting the rapid rise of enterprise AI and software companies.

Chinese entrepreneurs strong in entertainment and new consumption

While the United States dominates the AI sector, Chinese young entrepreneurs have shown strong influence in digital entertainment and new consumer brands.

The founders of Shanghai-based gaming company miHoYo — Cai Haoyu, Liu Wei and Luo Yuhao — all ranked among the top 10, with fortunes of 84 billion yuan, 47 billion yuan and 45 billion yuan, respectively. Their success reflects the global growth of Chinese video games.

China’s booming beverage market also produced several young billionaires, including founders from tea and coffee chains such as Guming, Chagee, HeyTea and Manner Coffee.

Consumer electronics entrepreneurs also made the list, including the founders of Insta360 and robotics vacuum maker Dreame Technology, highlighting the global competitiveness of Chinese smart manufacturing brands.

Younger founders and new paths to wealth

The list also reveals broader trends in how wealth is being created. The youngest self-made billionaires are three 22-year-old founders of the AI recruitment platform Mercor in San Francisco. On average, entrepreneurs on the list took nine years to reach billionaire status, though several AI founders achieved it in just two years.

The ranking also reflects the growing influence of the creator economy, with celebrities such as singer Taylor Swift, entrepreneur-musician Rihanna, and football stars Lionel Messi and Cristiano Ronaldo appearing on the list through their business ventures.

Hurun chairman Rupert Hoogewerf said the ranking offers a glimpse into the next generation of global business leaders. “These young entrepreneurs show where the next wave of wealth is being created,” he said. “When they reach the age of figures like Elon Musk or Warren Buffett, it will be fascinating to see how large their fortunes become and how they choose to use them.”

In total, the 108 entrepreneurs come from 16 countries and hold combined wealth totaling 2.4 trillion yuan.

With AI continuing to transform industries worldwide, analysts say the composition of the ranking — and the role of innovation hubs such as Shenzhen — may shift even further in the years ahead.