 "From Pony Ma to Jack Ma, the rich win big with wild Hong Kong stocks")
Pony Ma got $6.9 billion richer on Monday after one of the companies his Tencent Holdings backs revealed its IPO plans, while Jack Ma’s public reappearance on last Wednesday added $1.6 billion to his net worth.
Even though the Hong Kong market has proved particularly volatile lately — the benchmark Hang Seng Index gave up all of of its Monday gain on Tuesday — it’s been one of the world’s highlights this month.
Tencent and Alibaba Group Holding, along with food-delivery giant Meituan and carmaker Geely Automobile Holdings, were among the stocks helping propel the rally. Their top executives have made a combined $32 billion this month through Monday, and they’re not the only ones benefiting, according to the Bloomberg Billionaires Index.
The Top 10 richest moguls with companies that have a primary listing in Hong Kong have added more than $60 billion of wealth in January — or $3.8 billion for each trading day.
This doesn’t include Jack Ma, whose Alibaba trades in Hong Kong but has its primary listing is in New York. His net worth is up $3.5 billion this month to $54.1 billion as he resurfaced in a video after weeks of speculation about his whereabouts following a Chinese government clampdown that had left his business empire in crisis.
May resume Ant IPO once issues resolved: PBoC
Ant Group could resume its plans for an initial public offering once problems are resolved, China’s central bank chief said, offering some relief to global investors seeking signs on what the future holds for the world’s largest fintech giant. People’s Bank of China Governor Yi Gang said relevant agencies are still investigating issues related to monopolies at Jack Ma’s Ant Group, adding that the matters were “complicated” and some risks were related to consumer privacy.
Even though the Hong Kong market has proved particularly volatile lately — the benchmark Hang Seng Index gave up all of of its Monday gain on Tuesday — it’s been one of the world’s highlights this month.
Tencent and Alibaba Group Holding, along with food-delivery giant Meituan and carmaker Geely Automobile Holdings, were among the stocks helping propel the rally. Their top executives have made a combined $32 billion this month through Monday, and they’re not the only ones benefiting, according to the Bloomberg Billionaires Index.
The Top 10 richest moguls with companies that have a primary listing in Hong Kong have added more than $60 billion of wealth in January — or $3.8 billion for each trading day.
This doesn’t include Jack Ma, whose Alibaba trades in Hong Kong but has its primary listing is in New York. His net worth is up $3.5 billion this month to $54.1 billion as he resurfaced in a video after weeks of speculation about his whereabouts following a Chinese government clampdown that had left his business empire in crisis.
May resume Ant IPO once issues resolved: PBoC
Ant Group could resume its plans for an initial public offering once problems are resolved, China’s central bank chief said, offering some relief to global investors seeking signs on what the future holds for the world’s largest fintech giant. People’s Bank of China Governor Yi Gang said relevant agencies are still investigating issues related to monopolies at Jack Ma’s Ant Group, adding that the matters were “complicated” and some risks were related to consumer privacy.
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