(Bloomberg) – Pony Ma made $ 6.9 billion richer on Monday after a company backed by Tencent Holdings Ltd. On its plans to go public, while a public appearance by Jack Ma on Wednesday added $ 1.6 billion to his net worth
Although the Hong Kong market has proved particularly volatile lately – the benchmark Hang Seng Index gave up more than half of its gains on Tuesday – it was one of the highlights in the world this month.
Tencent and Alibaba Group Holdings Ltd., along with food delivery giant Meituan and automaker Geely Automobile Holdings Inc., were among the stocks that helped propel the rally. CEOs have made $ 32 billion this month and aren’t the only beneficiaries, according to the Bloomberg Billionaires Index.
The 10 richest tycoons with companies with an initial list in Hong Kong added more than $ 60 billion in wealth in January – or $ 3.8 billion per trading day. This does not include Jack Ma, who trades on Alibaba in Hong Kong but whose main listing is in New York. His net worth rose $ 3.5 billion this month to $ 54.1 billion as he appeared again in a video after weeks of speculation about his whereabouts in the wake of the Chinese government’s campaign that left his business empire in crisis.
Read more: Jack Ma’s video chat calls for $ 58 billion sob
Even Hui Ka Yan of China Evergrande Group, whose net worth fell more than anyone else in Asia last year, reclaimed $ 2.6 billion in 2021. The electric vehicle startup said Sunday it was selling 26 billion Hong Kong dollars ($ 3.35 billion). ) Of stocks, resulting in a 52% increase in inventory.
While Hong Kong’s economy has been hit hard by the coronavirus crisis and political repression, money has continued to flow into the city. Mainland residents took advantage of bargaining prices after international investors forced to dump some of the newly banned Chinese stocks, helping to boost the market, just as concerns about the tougher regulations governing China’s internet giants eased. Meanwhile, businesses linked to Chinese consumers – such as Meituan – have taken advantage as the nation was one of the few able to control the Covid-19 pandemic and the government pledged to increase consumption.
The Hang Seng Index rose 11% in January through Monday, when it reached its highest level since June 2018. It fell as much as 1.8% on Tuesday.
Bonnie Ma’s net worth increase of $ 18.6 billion this month is the largest after Elon Musk’s, while Tencent founder Zhang Qidong earned $ 8.5 billion. Zhong Shanshan of Nongfu Spring, a bottled water maker, who became the richest person in Asia at the end of 2020 and started the year with Warren Buffett’s status as the sixth richest in the world, added $ 16.2 billion in 2021. Wang Xing from Meituan raised $ 7.8. One billion.
Xiaomi’s Lei Jun is the only businessman whose net worth decreased in January. The US blacklisted the smartphone maker in an unexpected move that sent its shares plunging a record 10% on January 15th.
(Market movement updates in the second and seventh paragraphs)
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