A Genshin Impact booth at the gamescom video game fair in Cologne, Germany, last year

This story is part of Forbes’ coverage of China’s Richest 2024. See the full list here.

A string of mega-hits from miHoYo, the creator of breakout success Genshin Impact, an anime-styled action adventures game, propelled three new billionaires into the ranks of China’s 100 Richest. The Shanghai-based games developer, valued at an estimated $20 billion, is now looking to generative AI to power a next generation of games as it battles for turf in the fiercely competitive industry.

ss

“It’s not difficult to see our goal if you look at our history, to see the games we have made,” cofounder Cai Haoyu said during a virtual presentation at an industry conference in 2021. “We strive to create a more immersive gaming world.”

At 37, Cai is one of the youngest new entrants to the list, debuting at No. 43 with a net worth of $7.3 billion. The largest individual shareholder at privately held miHoYo, Cai stepped down as chairman late last year to focus on the company’s deep tech investments that range from humanoid robots to a metaverse social networking app. The entrepreneur is still the company’s CEO, according to Chinese corporate data provider Qichacha. Liu Wei, 37, who succeeded Cai as chairman and is the company’s president, comes in at No. 86 with a $4.4 billion fortune. The third cofounder, 35-year-old vice president and shareholder Luo Yuhao, ranks No. 90 with $4.3 billion. The company declined to comment.

The trio has carved out a niche in the gaming community with their rich and immersive storylines and virtual world settings that........

© Forbes