Shares of Tencent Holdings have soared by 49% over the past year, largely due to a resurgence in China’s gaming industry. This increase propelled chairman and CEO Ma Huateng—also known as Pony Ma—to become the top dollar gainer in China, adding $14.7 billion to his wealth and bringing his net worth to $46.8 billion. Ma has now regained his position as China’s second-richest person, a title he last held three years ago.
The launch of the mobile battle game Dungeon & Fighter Mobile in May played a pivotal role in Tencent’s growth, becoming an instant hit and contributing to an 8% year-on-year increase in second-quarter revenue, which reached $22.7 billion. Advertising revenue rose by nearly 20% to around $4.2 billion, spurred in part by high demand for limited ad spaces on Tencent’s popular WeChat platform, which now has close to 1.4 billion monthly active users.
Tencent Video, the company’s streaming service, also achieved significant success. Its shows Joy of Life 2 and The Legend of Shen Li emerged as the most-watched drama series on Chinese online platforms during the first half of 2024, according to Tencent’s data.
Have you read?
Best CEOs.
Best Companies.
Richest People (Billionaire).
Richest Women (Billionaire).
Richest in Each Country (Billionaire).
Add CEOWORLD magazine to your Google News feed.
Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.
Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine’ prior written consent. For media queries, please contact: info@ceoworld.biz