Forbes strips Alibaba founder of title of richest man in China :: Business :: RBC

In real time, experts estimate the worth of Jack Ma at $ 40.7 billion, and his rival Ma Huaten at $ 48.3 billion

Jack ma

(Photo: Sean Gallup / Getty Images)

The founder of the Alibaba Group, Jack Ma, who left the post of head of the company in September last year, again lost the leadership in the list of the richest residents of China to the founder of the distributor of online games Tencent Holdigs Ma Huaten. It is reported by Forbes. In real time, experts estimate the status of Jack Ma at $ 40.7 billion, and his rival at $ 48.3 billion.

In the annual Forbes ranking published in March 2020, the founder of Alibaba took first place among Chinese billionaires with a result of $ 38.8 billion, Ma Huateng behind him by $ 700 million.

The sharp rise in the fortune of Ma Huatong Forbes is attributed to the increase in Tencent shares: since the beginning of the year they have risen in price by more than 14%, which is explained by the surge in the popularity of online entertainment in the context of restrictions on leaving home in the context of the COVID-19 coronavirus pandemic infection. Tencent revenue grew 26% in the first quarter of 2020, exceeding 108 billion yuan (about $ 15 billion).

“Our products have never been more relevant and relevant as users stay at home,” said Ma Huaten on May 13.

However, Forbes notes that in the near future, demand for Tencent’s services and products may decline. Removal of quarantine restrictions in China will lead to the fact that people, including adolescents, will spend less time at home, and the worsening situation in the economy will force them to reduce spending on games.

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