Tencent Head Becomes China’s 2nd Wealthiest Person as Wang Jianlin Slips

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The chief of Internet giant Tencent has emerged as China’s second wealthiest citizen after property tycoon Wang Jianlin’s slip in the rankings.

According to the Bloomberg Billionaires Index Ma Huateng, co-founder of Tencent Holdings Ltd., has seen his wealth rise by USD$10 billion since the start of the year, following a 57% surge in share prices on the back of record-breaking sales.

This puts the “Pony” Ma’s net worth at almost $31 billion, pushing him ahead of Dalian Wanda head Wang Jianlin, whose property empire is traversing rough waters due to concerns over the debt risk of his overseas acquisitions.

Bloomberg reports that Wang’s net worth has fallen to $30.5 billion as Beijing steps up scrutiny of the financing behind his mammoth investments abroad.

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