Bloomberg

Tencent Boss Loses $14 Billion in Rout, More Than Jack Ma

(Bloomberg) — Turns out even the most compliant Chinese billionaires aren’t immune to the regulatory onslaught sweeping the world’s second-largest economy.In a twist that has upended conventional wisdom on the political pecking order of China’s business elite, Tencent Holdings Ltd.’s mild-mannered boss, Pony Ma, has lost more paper wealth over the past nine months than Jack Ma, the combative co-founder of Alibaba Group Holding Ltd. and Ant Group Co.The reversal underscores how rapidly Beijing’s

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