July was too expensive for Chinese giant tech company Tencent’s investors. The company’s shares fell more than 23 percent this month. Because of this, investors who bet on the company have lost $ 170 billion so far.
Bad performance: Bloomberg data shows that in July, Tencent had the worst performance among companies around the world. This month, only 9 of the world’s top-10 companies have lost investors. Let us tell you that other tech companies, including Tencent, are aimed at the Chinese government. In fact, the Chinese government is campaigning for data security and financial stability. It is also affecting tech companies.
Founders gave Adani a competition: Interestingly, in the first week of July, Tencent founder Ma Huateng (Pony Ma) overtook Gautam Adani in terms of wealth. However, Ma Huateng’s wealth is now less than $ 9 billion. According to the Bloomberg Billionaires Index, Ma Huateng is ranked 30th among the richest billionaires with a net worth of $ 45.9 billion.
A four-fold jump in the profits of the bank in which the government is selling shares
Let us tell you that Ma Huateng is the founder of the internet company Tencent. He started Tencent in 1998. Prior to that, he was working in China’s telecoms research and development of the Internet paging system.