Jack Ma's net worth falls after announcing departure
Besides Alibaba, three other Chinese internet giants, the Baidu, Tencent, and JD have all witnessed ups and downs in stocks.
Shares of Tencent Holdings continued to drop after reaching a record high of HK$475.6 ($60.6) on Jan 29 this year, due to stricter government regulation on its major online game business. The latest net worth of Tencent Holdings is HK$ 2.94 trillion, a HK$1.6 trillion cut compared with its peak.
Tencent Holdings announced to repurchase 125,000 shares of company's stocks at HK$38.6 million on Sept 12 to maintain its stock price, the fourth consecutive day of such stock operation. The company has repurchased a total of 397,700 shares at HK$124 million since Sept 9.
The net worth of Tencent chairman and CEO Pony Ma has shrunk HK$80 billion to HK$252.88 billion from the beginning of the year.
