4176World Current AffairsMedium
In June, 2020 who became the richest man of China, replacing Jack Ma for the top spot?
ALe Xin
BPony Ma
CZheng Hai
DBang Won
Correct answer
B. Pony Ma
Explanation
PUBG Owner Pony Ma Beats Alibaba’s Jack Ma To Become China’s Richest Person. Just this week, the gaming giant bagged an increase of $40 billion, reshuffling its co-founder, Pony Ma as the richest man in China. Tencent’s Pony Ma now stands 1st with a worth of $50 billion, pushing Alibaba’s Jack Ma’s $48 billion fortune to the second spot. In 2018, China had put a hold on the approval process for new games. This hampered the performance of Tencent to a great extent. However, the stocks almost doubled since then. Just last month, the tech giant reported a 26% jump in first-quarter revenue.