China’s resurgence was bolstered by 287 new billionaires over the last year|Stefan Fussan|CC BY-SA 3.0

China has reclaimed its title as the world’s billionaire capital, with 1,110 individuals, surpassing the United States, which has 1,000.

According to the Hurun Global Rich List, the global billionaire population has hit a record high of 4,020, fueled by a massive surge in stock markets and the rapid rise of AI firms.

China’s resurgence was bolstered by 287 new entrants over the last year, many of whom emerged from the industrial, semiconductor, and healthcare sectors.

AI has become the single largest engine for new wealth, minting 46 first-time billionaires globally, including Chinese tech leaders from firms like MiniMax and Zhipu.

The top three on the list were Tesla and SpaceX CEO Elon Musk ($700 billion), Amazon founder Jeff Bezos ($300 billion), and Google cofounder Larry Page ($281 billion).