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From Pony Ma to Jack Ma, the Rich Win Big With Wild H.K. Stocks
Bloomberg
1/26/2021
Venus Feng
(Bloomberg) Pony Ma got $6.9 billion richer on Monday after one of the companies his Tencent Holdings Ltd. backs revealed its IPO plans, while Jack Ma’s public reappearance 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 Ltd., along with food-delivery giant Meituan and carmaker Geely Automobile Holdings Ltd., 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. ....

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