Tencent's Ma Huateng replaces Jack Ma as China's richest person

Internet giant Tencent founder and CEO of Ma Huateng, worth $50 billion, has surpassed Alibaba Co-Founder Jack Ma's $48 billion fortune to become China's richest person, according to the Bloomberg Billionaires Index.

What worked in favour of the Tencent CEO, who is also known as Pony Ma, is the company's significant surge in stock this week.

Before co-founding Tencent in 1998, Pony led research and development for the internet paging system at China Motion Telecom Development Limited, a telecommunications services and products provider in China.

He received his Bachelor of Science degree specialising in Computer and Applied Engineering from Shenzhen University, according to the company bio.

Known for developing some of China's leading Internet platforms including the social messaging app WeChat, Tencent Holdings Limited went public on the main board of the Hong Kong Stock Exchange on June 16, 2004.

Its digital content products include online games, video, live streaming, news, music, literature.

In the gaming space, it provides some of the most popular titles including Honour of Kings, PUBG MOBILE and League of Legends.

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