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China's richest man is the new money Internet billionaire Ma Huateng, the founder and CEO of Tencent, who recently took the top spot in China from fellow billionaire Jack Ma, the founder of Alibaba.
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Ma Huateng is worth $52.9 billion, while Jack Ma is worth $43.9 billion, according to Forbes.
WHO IS JACK MA?
Ma Huateng was born in Guangdong province, China, according to Encyclopedia Brittanica. He co-founded Tencent just five years after graduating with a bachelor's in computer science from Shenzhen University. He's also known as "Pony Ma" because his surname translates to "horse" in English.