Skip to main content

Market Overview

Alibaba's Jack Ma Now Trails Pinduoduo And Tencent CEOs In Wealth

Alibaba's Jack Ma Now Trails Pinduoduo And Tencent CEOs In Wealth

Alibaba Group Holding Ltd (NYSE: BABA) founder Jack Ma is now ranked behind Pinduoduo Inc (NASDAQ: PDD) CEO Colin Huang in terms of net worth, Bloomberg reported Tuesday.

What Happened: Huang and fellow Chinese tech mogul Ma Huateng of Tencent Holdings Limited (OTC: TCEHY) are worth $58.6 billion and $53.3 billion, respectively, while Ma is worth $50.9 billion, as per Bloomberg Billionaires Index.

Even amid increased scrutiny by Chinese regulators, the three billionaires — Huang, Pony Ma, and Jack Ma — managed to add $39 billion, $14.7 billion, and $4.3 billion to their wealth respectively in 2020. 

Why It Matters: The founder of Alibaba has seen his wealth erode by $11 billion since the Chinese crackdown began in October, noted Bloomberg.

See Also: Why Pinduoduo Could Be 'Primary Beneficiary' Of Alibaba's China Regulatory Misfortunes

Ma reportedly received a dressing down from Chinese regulators ahead of the initial public offering of Ant Group, a fintech company he co-founded.

The IPO — expected to be the largest in history —  was suspended by Chinese authorities in November.

Price Action: On Friday, Alibaba shares closed 6.14% higher and gained 0.89% in after-hours trading in New York. On the same day, Pinduoduo shares closed nearly 15.6% higher at $166.19 and Tencent OTC shares closed almost 3.8% higher at $69.86.

Photo courtesy: World Economic Forum via Wikimedia


Related Articles (BABA)

View Comments and Join the Discussion!

Posted-In: Bloomberg Billionaires Index e-commerce Jack Ma Ma HuatengNews Events Tech Media Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at