Mainland China's billionaire count surges as BYD and Mixue bosses power wealth gains

Group 1: Wealth Growth of Billionaires - Mainland China's billionaires have seen their combined fortunes increase to nearly US$1.8 trillion, driven by significant contributions from BYD's founder Wang Chuanfu and Mixue's executives [1] - The wealth of mainland China's billionaires rose by 22.2% year on year to US$1.77 trillion in the 12 months leading up to early April, with the billionaire count increasing from 427 to 470 [2] Group 2: Technology Sector Influence - The technology sector is anticipated to continue being a major driver of wealth creation in the Asia-Pacific region, as stated by UBS's Amy Lo Choi-wan [3] - The artificial intelligence trend and technological advancements are benefiting Asia-Pacific markets broadly, with China's focus on quality growth through innovation expected to support the industry [4] Group 3: Hong Kong's Billionaire Landscape - Hong Kong's billionaire population reached 76 in 2025, with a total wealth of US$328 billion, reflecting an increase of US$2 billion from the previous year [4] - The IPO market in Hong Kong is seeing significant interest from billionaires in new economy companies, with technology firms dominating recent listings and future IPO pipelines [4] Group 4: Notable Billionaires and Companies - Wang Chuanfu and Lu Xiangyang, founders of BYD, recorded substantial wealth gains, ranking second in the tech sector after Elon Musk [5] - Brothers Zhang Hongchao and Zhang Hongfu joined the ranks of the ultra-rich following Mixue's successful US$444 million share sale in Hong Kong, with the stock price increasing over 56% since its debut [5]