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A social media tycoon is now China's richest man

Mar 01, 2018 - CNN

HONG KONG (CNNMoney) -- China's new richest man has chat apps and video games to thank for his massive wealth.

Tencent CEO Ma Huateng is the country's highest-ranked person on the Global Rich List published Wednesday by Shanghai-based wealth research firm Hurun Report.

His estimated fortune more than doubled to $47 billion over the past year.

His wealth has been supercharged by his stake of nearly 9% in Tencent, the Chinese social networking and internet company that he co-f...