Billionaires
China’s Tech Rally Turns Pony AI Founder Into a Billionaire
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Self-driving entrepreneur James Peng has hit billionaire status after the rally in Chinese tech firms buoyed stock in his robotaxi startup Pony AI Inc.
Shares in the Nasdaq-listed firm surged 23% over the past two trading days, bringing its gain to 41% since its November initial public offering. That lifted the value of Peng’s 17% stake to $1.1 billion, according to the Bloomberg Billionaires Index.