In a twist that has upended conventional wisdom on the political pecking order of China’s business elite, Tencent Holdings Ltd.’s mild-mannered boss, Pony Ma, has lost more paper wealth over the past nine months than Jack Ma, the combative co-founder of Alibaba Group Holding Ltd. and Ant Group Co.
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Wednesday, August 4, 2021
Tencent boss loses $14 billion in rout, more than Jack Ma
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