(Bloomberg) – Pony Ma received $ 6.9 billion in funds on Monday following an IPO plan of its Tencent Holdings Limited back, while Jack Ma’s public re-appearance increased his total assets by $ 1.6 billion on Wednesday.
Even though the Hong Kong market has proved particularly volatile recently – the benchmark Hang Seng Index shed more than half of its Monday gains on Tuesday – it remains one of the world’s major attractions this month.
Tencent and Alibaba Group Holding Ltd, along with food-delivery giant Meituan and carmaker Geely Automobile Holdings Ltd, were among the stocks that helped propel the rally. According to the Bloomberg Billionaires Index, their top executives have grossed $ 32 billion in total this month and they have not only benefited.
The top 10 richest moguls have added more than $ 60 billion in January – or $ 3.8 billion for each trading day – with companies placing the primary list in Hong Kong. This does not include Jack Ma, whose Alibaba trades in Hong Kong but has a primary list in New York. His net worth ranges from $ 3.5 billion to $ 54.1 billion this month after a week of his video sparking speculation about his whereabouts following the overthrow of a Chinese government that left his business empire in jeopardy.
Read more: Jack Ma’s video chat promises $ 58 billion relief
Even Hui Ka Yan of the China Evergrande Group, whose total assets are nonexistent in Asia last year, has achieved $ 2.6 billion in 2021. His electric-vehicle startup said it was selling HK $ 26 billion ($ 3.35 billion) of shares on Sunday, triggering a 52. % Surge in stock.
While Hong Kong’s economy was badly hit by the coronovirus crisis and due to a political rift, money is flowing into the city. The main market, which has taken advantage of the main markets after being forced by international investors to dump some newly banned Chinese stocks, has helped boost the market, such as on stricter regulatory regulations governing Internet giants in China Has reduced concerns. At the same time, companies associated with Chinese consumers – such as Mituan – benefited as the nation was one of the few able to control the Kovid-19 epidemic and the government has resolved to increase consumption.
The Hang Seng index rose 11% from Monday in January, when it was its highest level since June 2018. It fell to 1.8% on Tuesday.
Pony Ma has the largest $ 18.6 billion in wealth this month, after Elon Musk, while Tencent co-founder Zhang Zhidong has gained $ 8.5 billion. Zhong Shanshan of bottled water maker Nongfu Spring Company, which became the richest person in Asia at the end of 2020 and replaced Warren Buffet as the world’s sixth wealthiest, started the year by adding $ 16.2 billion in 2021 . Meituan’s Wang Jing has earned $ 7.8 billion.
Xiaomi Corp. Ka Lei Jun is the only major tycoon whose net worth has fallen in January. The US blacklisted the smartphone maker in an unexpected move, sinking its shares to a record 10% on 15 January.
(Update for market moves in the second, seventh paragraph)
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