China’s mysterious new billionaires are conquering the world
"Early last year, when DeepSeek, a Chinese artificial-intelligence lab, was causing panic among its Western rivals, almost nothing was known about Liang Wenfeng, its founder. Mr Liang remains a mysterious figure, but at least one thing is clear. As DeepSeek closes a funding round valuing it at $71bn, its founder’s personal wealth has soared to roughly $38bn—making him far wealthier than Anthropic’s Dario Amodei or Openai’s Sam Altman.
Mr Liang will not be spotted on the conference circuit. He has never appeared live on Chinese television, and there are few photos or taped footage of his unpolished, wiry figure. That puts him at home among the new generation of young Chinese billionaires. The country is cranking out more of them than anywhere else bar America. According to Hurun, which tracks the riches of the world’s wealthiest people, there were at least 29 self-made billionaires aged 40 or under in China this year. Including Mr Liang, who will turn 41 at some point this year, brings the total to 30. That is nine more than last year.
China’s new tycoons differ from their predecessors in striking ways. They have abandoned real-estate speculation and boozy dinners with officials. But they are also adept at taking imaginative ideas and scaling them into global businesses faster than any before them.
The history of China’s uber-rich is short. In the 1980s tycoons figured out how to wrest assets from the state. Zhang Ruimin, a member of a troupe of students who terrorised teachers and intellectuals during Mao’s era, got hold of a state-owned refrigerator business called Haier and turned it into what is now the world’s largest home-appliance maker. The opening of the property market in the 1990s minted another early group of billionaires including Xu Jiayin, founder of Evergrande, a now-collapsed property developer.
In the early 2000s industrialists such as Wang Chuanfu of BYD, originally a battery maker, launched a wave of manufacturing firms as China entered the WTO. And then in the 2010s the consumer internet produced China’s first generation of tech moguls, including Jack Ma of Alibaba, an e-commerce giant, and Pony Ma of Tencent, maker of of WeChat. The founders of ByteDance, creator of TikTok, and Shein, the online fast-fashion firm, who are both now in their early 40s, built their fortunes a few years later.
These people live with the sense that their businesses could be derailed at any time by sudden policy changes in China or America. By shunning publicity they seem to believe they can survive longer, he says. Most young Chinese billionaires have never spoken with foreign media. Many avoid the Chinese press as well. The result is a generation of tycoons that is both China’s most global—and its most enigmatic."
I refuse to pay a subscription for anything. I also won't use my real phone to scan codes or verify identity or age. If I encounter those demands for my information, I go find better things to do with my time. I once participated in a product survey for $3,000 hearing aids. In addition to paying for the hardware, for a monthly fee, you have access to their app which was actually amazing at filtering out background noise. The questions were, would you pay for the subscription, how much, low long . . . My answers were no, zero, never. Otherwise, you are paying for purposely crippled hardware. I doubt my opinion swayed them but they will never have me as a customer. What if you cancel the subscription, $3,000 for a brick?
I used to work for a professional theater and per equity rules we were required to hold auditions in NYC for three days to cast a full time resident actor. About 200 people applied. Some flew in from CA, AZ and FL. Many others drove or took a four hour train ride in to audition. I was told to just go and enjoy the process because the position was already filled by someone who was regularly doing extra work for us. He didn't even audition.
The bishop of a cathedral once told me how he was hiring a new music director and had over 50 resumes on his desk to peruse. An applicant knocked on his door saying he was interested in the job. The bishop looked at the applicant, looked at the pile, looked at the applicant and hired him on the spot. He was there for 50 years.
I have about five who live nearby and they visit my yard nightly. I have both a bird feeder that they rummage beneath but I also throw all my food scraps out there. They spend a few hours here in total but take turns with skunks, raccoons and house cats. Last night was the first time my camera caught both a raccoon and cat at the same time in a tense standoff for chicken scraps.
This should be nationwide and at least a week long. Make everyone hurt, even the good guys because NOT TO ACT IS TO ACT and there are a lot of good guys not acting right now.
The goal of DOGE was to terminate thousands of employees so they could use that money to hire ICE gestapo criminals. Their second goal was to nuke any agency that would stand in the way of tRump. The third was to nuke agencies launching investigation. Fourth, agencies with oversight. The fifth goal was to ransack their database and steal personal and sellable data. Lastly, Musk wanted the Institute for Peace building for himself but courts blocked the theft.
China’s mysterious new billionaires are conquering the world
"Early last year, when DeepSeek, a Chinese artificial-intelligence lab, was causing panic among its Western rivals, almost nothing was known about Liang Wenfeng, its founder. Mr Liang remains a mysterious figure, but at least one thing is clear. As DeepSeek closes a funding round valuing it at $71bn, its founder’s personal wealth has soared to roughly $38bn—making him far wealthier than Anthropic’s Dario Amodei or Openai’s Sam Altman.
Mr Liang will not be spotted on the conference circuit. He has never appeared live on Chinese television, and there are few photos or taped footage of his unpolished, wiry figure. That puts him at home among the new generation of young Chinese billionaires. The country is cranking out more of them than anywhere else bar America. According to Hurun, which tracks the riches of the world’s wealthiest people, there were at least 29 self-made billionaires aged 40 or under in China this year. Including Mr Liang, who will turn 41 at some point this year, brings the total to 30. That is nine more than last year.
China’s new tycoons differ from their predecessors in striking ways. They have abandoned real-estate speculation and boozy dinners with officials. But they are also adept at taking imaginative ideas and scaling them into global businesses faster than any before them.
The history of China’s uber-rich is short. In the 1980s tycoons figured out how to wrest assets from the state. Zhang Ruimin, a member of a troupe of students who terrorised teachers and intellectuals during Mao’s era, got hold of a state-owned refrigerator business called Haier and turned it into what is now the world’s largest home-appliance maker. The opening of the property market in the 1990s minted another early group of billionaires including Xu Jiayin, founder of Evergrande, a now-collapsed property developer.
In the early 2000s industrialists such as Wang Chuanfu of BYD, originally a battery maker, launched a wave of manufacturing firms as China entered the WTO. And then in the 2010s the consumer internet produced China’s first generation of tech moguls, including Jack Ma of Alibaba, an e-commerce giant, and Pony Ma of Tencent, maker of of WeChat. The founders of ByteDance, creator of TikTok, and Shein, the online fast-fashion firm, who are both now in their early 40s, built their fortunes a few years later.
These people live with the sense that their businesses could be derailed at any time by sudden policy changes in China or America. By shunning publicity they seem to believe they can survive longer, he says. Most young Chinese billionaires have never spoken with foreign media. Many avoid the Chinese press as well. The result is a generation of tycoons that is both China’s most global—and its most enigmatic."
They died for Israel, Epstein and so that trumPedo could be free.
I refuse to pay a subscription for anything. I also won't use my real phone to scan codes or verify identity or age. If I encounter those demands for my information, I go find better things to do with my time. I once participated in a product survey for $3,000 hearing aids. In addition to paying for the hardware, for a monthly fee, you have access to their app which was actually amazing at filtering out background noise. The questions were, would you pay for the subscription, how much, low long . . . My answers were no, zero, never. Otherwise, you are paying for purposely crippled hardware. I doubt my opinion swayed them but they will never have me as a customer. What if you cancel the subscription, $3,000 for a brick?
I used to work for a professional theater and per equity rules we were required to hold auditions in NYC for three days to cast a full time resident actor. About 200 people applied. Some flew in from CA, AZ and FL. Many others drove or took a four hour train ride in to audition. I was told to just go and enjoy the process because the position was already filled by someone who was regularly doing extra work for us. He didn't even audition.
The bishop of a cathedral once told me how he was hiring a new music director and had over 50 resumes on his desk to peruse. An applicant knocked on his door saying he was interested in the job. The bishop looked at the applicant, looked at the pile, looked at the applicant and hired him on the spot. He was there for 50 years.
Isn't ICE doing essentially the same thing here in the USA? Maybe Iran should bomb and liberate us?
I have about five who live nearby and they visit my yard nightly. I have both a bird feeder that they rummage beneath but I also throw all my food scraps out there. They spend a few hours here in total but take turns with skunks, raccoons and house cats. Last night was the first time my camera caught both a raccoon and cat at the same time in a tense standoff for chicken scraps.
They are beginning to disguise them in cones, barrels and small ones on a pole as small as rebar.
tRump is making China and Canada great again.
If you go out wearing a suicide vest, you'll get 84 virgins of your choosing. Men, women, sheep . . .
People, switch to USMOBILE https://www.usmobile.com/
mine looks like this and when I click on an office, person or directory, it yields dozens of sub categories or more names of underlings:
This should be nationwide and at least a week long. Make everyone hurt, even the good guys because NOT TO ACT IS TO ACT and there are a lot of good guys not acting right now.
I don't know what you guys are talking about. I have no problem accessing the site. Could I be on a fake one? https://icelist.is/ice/
He didn't just shoot her, he executed her, murdered her, assassinated her and deprived her of ALL her constitutional rights.
So conduct your own investigation you twits.
Variation to the article: https://valorinternational.globo.com/economy/news/2025/11/11/brazil-offsets-export-losses-from-trump-tariffs-with-other-markets.ghtml
You are depriving brush companies from selling more brushes.
The goal of DOGE was to terminate thousands of employees so they could use that money to hire ICE gestapo criminals. Their second goal was to nuke any agency that would stand in the way of tRump. The third was to nuke agencies launching investigation. Fourth, agencies with oversight. The fifth goal was to ransack their database and steal personal and sellable data. Lastly, Musk wanted the Institute for Peace building for himself but courts blocked the theft.
Uhm, no thanks. MAGA are too stupid to become liberals. They don't deserve forgiveness for what they've done to the country.