Founder of Tencent
The Billionaire Founder of Tencent is Donating $2 Billion to Charity
Ma Huateng, chairman of Tencent Holdings Ltd., recently announced his plans to give away 100 million shares of his company to a new charity fund.
The shares are estimated to be worth over $2 billion and will constitute what is believed to be the second biggest philanthropic donation in the history of China.
Ma, 44, became China’s richest man in 2014 after shares of his Chinese internet messaging company skyrocketed. The computer science student co-founded Tencent with a fellow Shenzhen University classmate in 1998 to produce their first instant-messaging software. Tencent has grown to become China's largest social network and online entertainment firm known for its services such as mobile messaging WeChat and the web portal QQ.com.
According to Reuters, Ma, who currently has a net worth of nearly $18.8 billion, believes there is a dire need for the wealthy to give back. He said in a statement on Monday:"After 10 years of exploration and participation in philanthropic activities, I increasingly feel that there is a need for a more longer-term, efficient and organized way to give back to society."
Ma Huateng, chairman of Tencent Holdings Ltd., recently announced his plans to give away 100 million shares of his company to a new charity fund.
The shares are estimated to be worth over $2 billion and will constitute what is believed to be the second biggest philanthropic donation in the history of China.
Ma, 44, became China’s richest man in 2014 after shares of his Chinese internet messaging company skyrocketed. The computer science student co-founded Tencent with a fellow Shenzhen University classmate in 1998 to produce their first instant-messaging software. Tencent has grown to become China's largest social network and online entertainment firm known for its services such as mobile messaging WeChat and the web portal QQ.com.
According to Reuters, Ma, who currently has a net worth of nearly $18.8 billion, believes there is a dire need for the wealthy to give back. He said in a statement on Monday:"After 10 years of exploration and participation in philanthropic activities, I increasingly feel that there is a need for a more longer-term, efficient and organized way to give back to society."
