Tencent's Ma tops China rich list

Ma Huateng, chairman and CEO of Tencent [Photo/icpress.cn]

Ma Huateng, chairman and CEO of Tencent, China's largest Internet company by revenue, became the nation's richest man amid rising share prices for his Hong Kong-listed company, according to the Bloomberg Billionaires Index, which was updated on Thursday.

Li Yanhong, or Robin Li, the founder of China's largest Internet search engine Baidu, formerly the wealthiest individual in China, ranked third after property tycoon Wang Jianlin.

Ma's net wealth is estimated at $13 billion with Tencent's share price surging to HK$512.5 ($66) on Thursday from the company's IPO price of HK$3.7 in 2004. The wealth of Wanda Group's chairman Wang Jianlin is estimated at $12.6 billion, which is only $100 million more than Li's.

Two men topped the rich list in 2013.

In August Wang overtook Zong Qinghou, chairman of Hangzhou Wahaha Group, as the country's richest man. Then in December, Li passed Wang.

The wealth of Ma, the founder and Alibaba Group Holdings Ltd, is estimated at $3.6 billion. But the number may rise in the near future as soon as Alibaba launches its IPO.

 

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