In 2020, Chinese internet titan Tencent gained some USD 120 billion through its shareholdings in companies it invested in, said a report by The Information on Tuesday. That’s six times more than the firm’s own expected net income for the year.
By the end of 2020, Tencent held shares in nearly 1,200 companies, of which around 100 are publicly traded. Over the years, it has spent over USD 80 billion for the stakes that are now worth USD 280 billion, according the report.
Tencent Investment has been one of the most successful corporate VCs in the world, backing many of the country’s dominating internet services from early on, like e-commerce giant JD.com (NASDAQ: JD, HKEX: 9618), ride-hailing platform Didi Chuxing, as well as on-demand delivery app Meituan (HKEX: 3690). It holds some 16.5% in Pinduoduo (NASDAQ: PDD), whose stock surged 295% last year.
Tencent’s preferred sector has been entertainment, according to data by ITjuzi. The firm poured around USD 11 billion into various game developers and content creators around the world.
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This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.
