Tencent CEO Pony Ma makes $2bn charity pledge
100 million company shares to go to good causes in China
Pony Ma, CEO of the world's biggest game company and one the richest men in China, has pledged to donate 100 million Tencent shares to good causes in China, a gesture worth around $2 billion.
Ma, who has an estimated personal fortune of $18.8 billion, has said that the money will go towards medical, educational and environmental projects in his home country. The gift will mark the second largest ever philanthropic donation in China's history after Alibaba co-founders Joe Tsai and Jack Ma gave $3 billion in stock options in 2014.
"After 10 years of exploration and participation in philanthropic activities, I increasingly feel that there is a need for a more longer-term, efficient and organized way to give back to society," Reuters reports Ma as saying.
Tencent's success remarkable, with the company grossing nearly $16 billion last year across messaging, games and social network services. In December the firm completed a buyout of the remaining shares in League of Legends developer Riot Games, having been a majority shareholder since 2011.