Ma's wealth is still down about 40 per cent from its peak in January 2021, according to Bloomberg’s wealth index.
Pony Ma's wealth is still down about 40 per cent from its peak in January 2021, according to Bloomberg’s wealth index.
Zhong drops to third place, and Zhang Yiming, the founder of privately-held TikTok owner ByteDance, is second. Ma’s wealth surge came after China spent the better part of two years reining in the country’s most powerful tech firms, including Alibaba Group Holding and Didi Global, along with their ultra-rich founders. That clampdown eroded investor and entrepreneurial confidence and chilled a private sphere that was crucial in propelling the Chinese economic miracle of past decades.
Colin Huang, the founder of PDD Holdings, held the crown for just 18 days last month before surprising his own investors with an gloomy outlook for his e-commerce firm.
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