Ma Huateng, CEO of social media and video game publishing giant Tencent, is now China's richest person, according to Chinese research firm Hurun Report (via CNN). Over the past year, Huateng's fortune doubled to $47 billion.
In the overall list, the CEO ranks number 15, falling behind other billionaires like Michael Bloomberg, Warren Buffet and Mark Zuckerberg. Huateng replaced real estate tycoon Hui Ka Yan as the country's richest person. As CNN points out, China has over 800 billionaires – "or almost 50% more than the US."
Additionally, Huateng's company, Tencent, is doing really well. Valued at more than $540 billion, the company is now bigger than one of its main competitors, Facebook.
One of the reasons for Huateng's increase in wealth could be the number of high-profile video game partnerships the company's secured in recent years. Tencent has the rights to publish the massively-popular PlayerUnknown's Battlegrounds in China, as well as other collaborations with Nintendo. The company is also the publisher resonsbile for Arena of Valor, which boasts more than 200 million players in China alone.