Tencent has been in the tech industry for quite a long time and the reward for its continuous hard work has paid off finally! The company becomes the first ever Chinese form which has a worth of over $500 billion, $510 billion to be exact.
Though this may not be a huge figure for the companies in the US but for China, it is a big deal! In the USA, the companies which have achieved this hallmark, have names like:
- Amazon etc.
Amazon’s name at the end of the list doesn’t mean that it is the least of them, rather it reached the $500 billion mark back in 1997. Facebook achieved the $500 billion figure on the launch of its IPO back in 2012.
Moreover, Tencent isn’t that old but the economic growth of the company over the last two years has been remarkable. The share price for Tencent has shot up from HK$175 per share to a huge HK$400+ per share in this year.