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Online games are booming, Tencent President Liu Chiping's wealth rises | Hong Kong Rich List

Liu Chiping, President of Tencent. Image source: Visual China

 

In 2018, Tencent President Liu Chiping made his debut on the Forbes Hong Kong Rich List. In the past year, Liu Chiping's wealth has grown tremendously. Last year, the Hong Kong stock Tencent share price doubled, and Liu Chiping's wealth increased to US$4.5 billion, an increase of 96%. Under the leadership of founder Ma Huateng, Tencent's revenue in the third quarter of last year increased by 85% year-on-year to 39 billion yuan. Tencent's WeChat has 1.2 billion monthly active users.

However, Tencent's development is not lacking in challenges. Relevant departments have strengthened the supervision and review of Ant Group, an affiliate of Alibaba, and it seems that they have released a signal to strengthen the supervision of financial technology, which may affect WeChat Pay and Tencent Digital Bank WeBank. In December this year, Tencent's spin-off and listed China Reading Group, Alibaba Investment Co., Ltd., and Fengchao Network Technology Co., Ltd. were fined RMB 500,000 by the State Administration of Market Supervision for violating the Anti-Monopoly Law.

Tencent declined to respond to antitrust issues.