miHoYo Ranked as World's Most Valuable Private Gaming Company by Hurun Research Institute
miHoYo has reached a valuation of approximately $30 billion, placing it 25th on the Hurun Research Institute annual ranking of private companies.
miHoYo has been identified as the most valuable private gaming company in the world. According to the annual ranking published by the Hurun Research Institute, the creator of Genshin Impact claimed the 25th spot on the list, sharing the position with Telegram and VAST Data. Analysts currently value the studio at around $30 billion.
No other purely gaming company on the list approached miHoYo's financial milestone. The second-highest gaming developer by market value was Lilith Games, the creator of Rise of Kingdoms and AFK Arena. Lilith Games ranked 256th on the list with a valuation of $4.4 billion.
Certain criteria shaped the scope of the rankings. The Hurun Research Institute focuses exclusively on private companies whose shares are not publicly traded, and all included entities were founded after 2000. Analysts note that the inclusion of older, more established developers could alter the results.
miHoYo has experienced rapid financial growth over recent years. In 2023, the studio was valued at approximately $7.2 billion. That figure rose to $23 billion by 2024 before climbing further to reach its current estimated valuation.
Sources
- GamesRadar+Secondary publication · recorded Sep 15, 2026The internet's new obsession: Gabe Newell explaining why Valve defied big tech by staying a private company and hiring "the most expensive talent"
- Game World ObserverEstablished publication · recorded Sep 15, 2026miHoYo is the most valuable private gaming company in the world according to Hurun Research Institute, but there’s a catch