China’s mysterious new billionaires are conquering the world
And refusing to talk to the press.
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News footage of Chinese President Xi Jinping shaking hands with DeepSeek founder Liang Wenfeng during a symposium on private enterprises at a shopping complex in Beijing in 2025.
PHOTO: REUTERS
The Economist
Early in 2025, when DeepSeek, a Chinese artificial intelligence lab, was causing panic among its Western rivals, almost nothing was known about Liang Wenfeng, its founder. Liang remains a mysterious figure, but at least one thing is clear. As DeepSeek closes a funding round valuing it at US$71 billion (S$91.7 billion), its founder’s personal wealth has soared to roughly US$38 billion – making him far wealthier than Anthropic’s Dario Amodei or OpenAI’s Sam Altman.
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.
