Thirty-year-old Ding Lei, also known as William Ding, is the head of China Internet portal NetEase.com.
Brisk trading of China Web properties on the US Nasdaq technology board has boosted Ding's wealth to $900m (£529m), according to a Xinhua agency report.
He owns 52 percent of shares in the company, which, like other high-riding China portals, makes most of its money from online gaming and PC-to-phone short message services (SMS).
"China's first three most popular Internet portals, namely Sina, Sohu and NetEase, are closely connected with wireless business," Lu Benfu, director of Internet Research Centre with the Chinese Academy of Social Sciences, was quoted as saying.
Almost half of NetEase's income comes from mobile services. However, according to an Asian Wall Street Journal report, new government restrictions on mobile services offered by China Net portals could stifle income in months to come.
After a bumpy first two years marked by losses and changes in top management, in the third quarter of this year NetEase roped in a net income of $10m, with revenue nearly doubling to $18m thanks to online gaming.
China had 68 million Internet users as of the end of June, 8.9 million more than six months ago, according to the China Internet Network Information Centre (CNNIC). China's Net users now constitute 5.3 percent of its 1.3 billion population.
