Professor one of richest post SenseTime Group's red-hot debut

SenseTime Group co-founder Tang Xiao’ou has become one of the world’s richest people, after the Chinese AI champion blew past concerns about American sanctions to surge as much as 23 per cent on its Hong Kong debut.

The Massachusetts Institute of Technology alum’s wealth has jumped by $300 million to roughly $3.7 billion after SenseTime ended Thursday 7.3 per cent above its initial public offering price, according to the Bloomberg Billionaires Index.

Unlike many of his cohorts, the SenseTime co-founder hailed from the world of academia, as an information engineering professor at the Chinese University of Hong Kong.

He has long been involved in developing the artificial intelligence required for facial recognition.  SenseTime’s rip-roaring debut defied all expectations, particularly after a US ban on American investors forced the AI company to first delay its IPO, then price its shares at the very bottom of a previously indicated range. 

Investors had been nervous about the fallout from the blacklisting, which stem from allegations SenseTime’s facial-recognition software perpetuates human rights violations in the far western region of Xinjiang. The sanction, which came on top of an existing ban on sales of American technology, was announced just days before the debut.

SenseTime said the claims are unfounded. Its executives were visibly moved on Thursday as they convened for a livestreamed listing ceremony, with at least one in tears.

“Every company will have their own challenges and objectives. For us, it’s about getting back on the front foot as creators and pioneers,” said Xu Li SenseTime’s chief executive officer.