Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News

      ‘System offline’ scourge to end, says Schreiber – but industry must pay

      23 June 2025

      Why the spectrum gold rush may soon be over

      23 June 2025

      Tech stability key to getting South Africa off damaging financial grey list

      23 June 2025

      Naspers shifts to an AI-first strategy – and it’s paying off

      23 June 2025

      Letter: South Africa risks missing AI wave while world surges ahead

      23 June 2025
    • World

      Watch | Starship rocket explodes in setback to Musk’s Mars mission

      19 June 2025

      Trump Mobile dials into politics, profit and patriarchy

      17 June 2025

      Samsung plots health data hub to link users and doctors in real time

      17 June 2025

      Beijing’s chip champions blacklisted by Taiwan

      16 June 2025

      China is behind in AI chips – but for how much longer?

      13 June 2025
    • In-depth

      Meta bets $72-billion on AI – and investors love it

      17 June 2025

      MultiChoice may unbundle SuperSport from DStv

      12 June 2025

      Grok promised bias-free chat. Then came the edits

      2 June 2025

      Digital fortress: We go inside JB5, Teraco’s giant new AI-ready data centre

      30 May 2025

      Sam Altman and Jony Ive’s big bet to out-Apple Apple

      22 May 2025
    • TCS

      TechCentral Nexus S0E3: Behind Takealot’s revenue surge

      23 June 2025

      TCS | South Africa’s Sociable wants to make social media social again

      23 June 2025

      TCS+ | AfriGIS’s Helen Hulett on how tech can help resolve South Africa’s water crisis

      18 June 2025

      TechCentral Nexus S0E2: South Africa’s digital battlefield

      16 June 2025

      TechCentral Nexus S0E1: Starlink, BEE and a new leader at Vodacom

      8 June 2025
    • Opinion

      South Africa pioneered drone laws a decade ago – now it must catch up

      17 June 2025

      AI and the future of ICT distribution

      16 June 2025

      Singapore soared – why can’t we? Lessons South Africa refuses to learn

      13 June 2025

      Beyond the box: why IT distribution depends on real partnerships

      2 June 2025

      South Africa’s next crisis? Being offline in an AI-driven world

      2 June 2025
    • Company Hubs
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • AvertITD
      • Braintree
      • CallMiner
      • CambriLearn
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • Incredible Business
      • iONLINE
      • Iris Network Systems
      • LSD Open
      • NEC XON
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SevenC
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Tenable
      • Vertiv
      • Videri Digital
      • Wipro
      • Workday
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Motoring
      • Public sector
      • Retail and e-commerce
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » Investment » Tencent CEO’s wealth declines by R200-billion in China crackdown

    Tencent CEO’s wealth declines by R200-billion in China crackdown

    By Agency Staff4 August 2021
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp
    Tencent headquarters in Shenzhen

    It turns out even the most compliant Chinese billionaires aren’t immune to the regulatory onslaught sweeping the world’s second largest economy.

    In a twist that has upended conventional wisdom on the political pecking order of China’s business elite, Tencent Holdings’ mild-mannered boss, Pony Ma, has lost more paper wealth over the past nine months than Jack Ma, the combative co-founder of Alibaba Group and Ant Group.

    The reversal underscores how rapidly Beijing’s crackdown has expanded since authorities scuttled Ant’s initial public offering on 3 November. What initially looked like a targeted campaign against China’s most outspoken tech tycoon has since spread to nearly every corner of the industry and beyond as regulators de-emphasise unfettered growth in favour of other priorities such as data security, financial stability and reduced inequality.

    While Pony has long had a reputation for staying out of the limelight, that hasn’t shielded his company from penalties

    While Pony has long had a reputation for staying out of the limelight, that hasn’t shielded his company from penalties including antitrust fines and the loss of exclusive music streaming rights. Tencent shares posted their biggest intraday decline in a decade on Tuesday after a state-owned newspaper took aim at the company’s key gaming business, fuelling speculation it could become the next target of Beijing’s crackdown.

    Pony’s fortune has dropped by almost US$14-billion (R200-billion) since the Ant IPO was suspended in November, falling to $45.8-billion on Tuesday, according to the Bloomberg Billionaires Index. He now ranks third on the China rich list behind Jack, who has a net worth of $47.8-billion.

    Toned down

    While state media toned down their language on gaming Wednesday, helping fuel a more than 5% rebound in Tencent, the stock is still 17% lower for the year. The outlook will depend in large part on what comes next from regulators, who shocked investors late last month with a clampdown on tutoring companies that will force many of them to become non-profits.

    Tencent is already moving to assuage Beijing, pledging to further limit playtime for minors and forbid in-game purchases for the youngest players. The company also broached the possibility of the industry banning games altogether for those under the age of 12.  — Reported by Venus Feng, (c) 2021 Bloomberg LP



    Jack Ma Pony Ma Tencent top
    Subscribe to TechCentral Subscribe to TechCentral
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleICT industry veteran Johann Coetzee joins NEC XON
    Next Article Naspers leads R160-million investment in start-up Naked Insurance

    Related Posts

    China is behind in AI chips – but for how much longer?

    13 June 2025

    Nvidia CEO says China is catching up fast in AI chip race

    29 May 2025

    Jack Ma-backed Ant Group touts AI breakthrough using Chinese chips

    24 March 2025
    Company News

    IoT connectivity management in South Africa – expert insights

    23 June 2025

    Let’s reimagine Joburg using the power of tech, data and AI

    23 June 2025

    Netstar doubles down on global markets while backing SA growth

    23 June 2025
    Opinion

    South Africa pioneered drone laws a decade ago – now it must catch up

    17 June 2025

    AI and the future of ICT distribution

    16 June 2025

    Singapore soared – why can’t we? Lessons South Africa refuses to learn

    13 June 2025

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2025 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.