ByteDance’s AI Makes Chinese Tycoon One of Asia’s Richest Women

Entrepreneur Zhou Chaonan has become one of just three Chinese women billionaires in the ranks of world’s 500 richest people, propelled into the rarefied club by the rise of TikTok owner ByteDance and the artificial intelligence boom.

The 64-year-old is the founder of data center operator Range Intelligent Computing Technology, which provides the computing power enabling the AI ambitions of its main client, ByteDance.

Range Intelligent’s stock rose 105 percent in 2024, giving Zhou a net worth of US$7.7 billion (HK$60.06 billion), according to the Bloomberg Billionaires Index, which is valuing her for the first time. Zhou is the chairwoman of the firm.

Her ascent comes as Chinese billionaires slowly recover their wealth after three years of losses from a property crisis and President Xi Jinping’s push for common prosperity at the expense of powerful private business owners.

Zhou and Range Intelligent didn’t respond to Bloomberg’s requests for comment.

(Bloomberg)