Chinese Tycoons Claw Back $71 Billion From Market Rebound

Pony Ma and Colin Huang were among the world’s biggest gainers
Their fortunes are set to rise further as stocks climb

WATCH: Chinese stocks climbed as Beijing’s strong push to stabilize markets lures buyers back after a relentless equity selloff. Yvonne Man reports.Source: Bloomberg

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By Venus Feng

March 17, 2022 at 4:13 AM UTC

This article is for subscribers only.

The strength of the rebound in Chinese and Hong Kong shares on Wednesday added $71 billion to the combined fortune of the richest people from the mainland. With the surge continuing on Thursday, that amount is set to rise further.

Tencent Holdings Ltd.’s Pony Ma, William Ding of NetEase Inc. and Colin Huang, the founder of Pinduoduo Inc., were among the world’s biggest gainers, adding more than $5 billion each, according to the Bloomberg Billionaires Index. The gains came as Chinese stocks trading in Hong Kong staged their best rebounds since 2008 on Wednesday after the nation’s top financial policy body pledged to stabilize a market that had gone into free fall.