Billionaires: Tencent’s Pony Ma dethrones Jack Ma as China’s richest – The National

Billionaires: Tencent’s Pony Ma dethrones Jack Ma as China’s richest – The National

In our fortnightly roundup, the tech company's stock surge has reshuffled the country's wealthiest ranking and Harold Hamm buys $57m worth of shares in his shale drilling company

















Tencent chairman and chief executive Pony Ma now has a net worth of $55.3bn, while Alibaba co-founder and former executive chairman Jack Ma is worth $44.5bn. Photo: Bloomberg







Tencent's $40 billion (Dh146.9bn) surge this past week has propelled its founder's fortune, making Pony Ma China's richest person ahead of Alibaba's Jack Ma.



Tencent chairman and chief executive Pony Ma now has a net worth of $55.3bn, while Alibaba co-founder and former executive chairman Jack Ma is worth $44.5bn, according to Forbes.



The country's largest games developer surpassed Alibaba as Asia's most-valuable company, with its shares rising above HK$500 (Dh237) in intraday trading on Wednesday for the first time.



The coronavirus pandemic has accelerated the digitisation of the workplace and changed consumers' habits, boosting the shares of many internet companies. Now tech tycoons are dominating the ranks of China's richest people.



Pinduoduo, a Groupon-like shopping app also known as PDD, has more than doubled in value this year.



And Colin Huang