Ma Huat Is Back On The Top, China’s Richest Billionaire

Ma Huat, the CEO of Tencent, China’s leading internet company, is back on top.
Tencent’s stock rose 7% in Hong Kong on Thursday, closing at HK $654, bringing Ma Huat’s net worth to $4.3 billion. It propelled him past Nong Shans’ net worth of $62.9 billion.

Tencent's Ma Huateng replaces Alibaba's Jack Ma as China's richest person

In extraordinary financial terms, Zhong’s success has coincided with that of China’s bottled water king, Mr Bottle water, which debuted on the Hang Seng Index on September 8, 2010, at HK $21.50 per share. It peaked at HK $66.60 on January 8 and gradually fell to an estimated closing price of HK $65.95 on February 17.

To summarise, it’s been a difficult time since. Nong Sam’s HDB sales fell to a four-and-a-half-month low of HK $40 on Thursday before rising to four-and-a-half on Friday. Nong Spring’s stock has dropped nearly 40% since the beginning of February.

10 things you didn't know about Tencent CEO Pony Ma | South China Morning  Post

To say the least, the company has been struggling recently. Since two weeks ago, the stock is down six-hundredths of a percent, and one-and-fifteenths of a percent since its recent high on February tenth. Nonetheless, China’s largest social network (WeChat, with 1.3 billion users) has outperformed the Shenzhen-based messaging app developer in terms of shareholder growth.

Tencent forecasted a $58.3 billion net profit in 2020, based on a $32.5 billion increase in revenue. NongSpring saw a 4.8 per cent decrease in revenue in 2012 and a 6.3 per cent increase in profits in 2013.
Pony Ma Huat joined Tencent as an early member in 1998 and is now the company’s CEO.

China is the world’s second-richest billionaire nation, but it has been losing ground in recent years.

The Entreprenuers Diaries is now available on Telegram. Join our telegram channel to get instant updates from TED

+ posts

A Business Development Manager and Internet Industry veteran with more than 7 years of experience in Sales Operations, Events & Weddings, Social Media Marketing, Business Development & Strategy.


Related articles

Entrepreneur’s Diaries – 30 Under 30: Submit Yourself To Be Considered For The Class Of 2023

Nominations are now being accepted for the Class of 2023; if you know of an outstanding professional or entrepreneur in any of our 21 categories, please have them submitted to us by December 15, 2022.

Chatting With Comedian-Turned-Author Madison Malloy About Her First Published Book

We had the opportunity to interact with comedian turned author Madison Malloy about her journey from being a popular comedian to self-published author. She has published a new book titled “TIME TO LIGHTEN THE FUCK UP.” Below is the interview we are sharing with you in this article.