China’s largest game developer company Tencent recently surpassed Alibaba Group Holding Ltd worth to become Asia’s most valuable company. The addition of around $40 billion this week has also added to the wealth of the founders of Tencent.
One of the founders of Tencent, Pony Ma’s, worth now stands at $50 billion to surpass Jack Ma’s $48 billion fortune, becoming China’s richest person.
The pandemic has a big role to play in Tencent claiming the top spot as lockdown has surged the usage of tech. Also, A depletion in e-commerce buying in the coronavirus world could be one of the reasons behind Jack Ma lagging behind.
As of now, tech tycoons are dominating the ranks of China’s richest people. They occupy four of the top five spots: Ding Lei of Tencent peer NetEase Inc. follows China Evergrande’s Hui.
“Tencent’s online games segment will probably perform strongly through the Covid-19 pandemic, and most of its other businesses are relatively unscathed,” said Vey-Sern Ling, a Bloomberg Intelligence analyst.
Tencent is the mind and partner behind some cool games like PUBG, Call of Duty or Fortnight and more.