On-line Video games Energy Tencent President Up The Wealth Rankings

Martin Lau of Tencent.

This story is a part of Forbes’ protection of Hong Kong’s Richest 2021. See the total listing right here.

Tencent president Martin Lau, who made his listing debut in 2018, was among the many largest gainers this yr. The quantity two on the Hong Kong-listed tech big noticed a 96% improve in his internet value to $4.5 billion after Tencent’s inventory worth almost doubled over the previous yr. Led by founder Pony Ma, Tencent posted an 85% surge in third-quarter revenue to 39 billion yuan ($6 billion) from a yr earlier, pushed by sizzling demand throughout the pandemic for its on-line video games. Its messaging app WeChat has greater than 1.2 billion month-to-month customers. The Shenzhen-based agency, nevertheless, is going through some headwinds. The elevated regulatory scrutiny of Alibaba’s Ant Group might portend tighter management of China’s fintech sector, which incorporates Tencent’s cell cost supplier WeChat Pay and digital financial institution WeBank. In December, Tencent’s e book spinoff China Literature, in addition to Alibaba and Shenzhen Hive Field, have been every fined $76,000 by regulators in Beijing for antitrust violations. Tencent declined to touch upon the antitrust challenge.

Try my web site

I’ve been writing for Forbes Asia since 2010. As a freelancer I additionally labored with organizations reminiscent of The Economist Group, Ford Basis and Crain Communications. I

I’ve been writing for Forbes Asia since 2010. As a freelancer I additionally labored with organizations reminiscent of The Economist Group, Ford Basis and Crain Communications. I discover curiosity in how China’s enterprise and cultural dynamics match into the world’s puzzle.

Supply hyperlink

You may also like

Leave a Reply

Your email address will not be published. Required fields are marked *