Aamir takes a break from Thugs to promote Secret Superstar

Jun 25: Tencent Holdings Ltd.'s $40 billion surge this week and the recent ascent of Pinduoduo Inc. have reshuffled the ranking of China's richest people.

The country's largest game developer has surpassed Alibaba Group Holding Ltd. as Asia's most-valuable company, with its shares rising above HK$500 in intraday trading Wednesday for the first time. Pinduoduo, a Groupon-like shopping app also known as PDD, has more than doubled this year.

The rallies have propelled the wealth of their founders, with an added twist: Tencent's Pony Ma, worth $50 billion, has surpassed Jack Ma's $48 billion fortune, becoming China's richest person. And Colin Huang of PDD, whose net worth stands at $43 billion, has squeezed real estate mogul Hui Ka Yan of China Evergrande Group out of the top three earlier this year, according to the Bloomberg Billionaires Index.

The coronavirus pandemic has accelerated the digitization of the workplace and changed consumers' habits, boosting shares of many internet companies. Now tech tycoons are dominating the ranks of China's richest people. They occupy four of the top five spots: Ding Lei of Tencent peer NetEase Inc. follows China Evergrande's Hui.

‘Perform Strongly'

Tencent has come a long way since hitting a low in 2018, when China froze the approval process for new games. Since then, the stock has almost doubled, and last month the tech giant reported a 26 per cent jump in first-quarter revenue.

“Tencent's online games segment will probably perform strongly through the Covid-19 pandemic, and most of its other businesses are relatively unscathed,” said Vey-Sern Ling, a Bloomberg Intelligence analyst.

That has been a boon for Pony Ma, 48, who owns a 7 per cent stake in the company and pocketed about $757 million from selling some 14.6 million of his Tencent shares this year, data complied by Bloomberg show.

The native of China's southern Guangdong province studied computer science at Shenzhen University and was a software developer at a supplier of telecom services and products before co-founding Tencent with four others in the late 1990s. At the time, the company focused on instant-messaging services.

It has been a long comeback for Pony Ma. He overtook real estate tycoon Wang Jianlin as China's second-richest person in 2013 and topped Baidu Inc.'s Robin Li as the wealthiest in early 2014. Later that year, Alibaba went public in the U.S., catapulting Jack Ma's fortune.

Bloomberg Intelligence's Ling notes, however, that Tencent's jump this year has lagged behind some internet peers, especially those in e-commerce, games and online entertainment. Just consider: Tencent shares have climbed 31 per cent in 2020, while PDD's American depositary receipts have more than doubled. Alibaba, meanwhile, has advanced just 6.9 per cent.

Mumbai, Jul 3: Bollywood woke up to the shock news of their beloved 'masterji' Saroj Khan's death on Friday, with many celebrities remembering the veteran choreographer as a "genius" and an "inspiration" to others.

Khan, the name behind some of the most famous songs in Bollywood such as "Dhak Dhak" and "Ek Do Teen", died of cardiac arrest early on Friday morning. She was 71.

Superstar Akshay Kumar termed Khan's demise as a "huge loss" to the industry.

"Woke up to the sad news that legendary choreographer #SarojKhan ji is no more. She made dance look easy almost like anybody can dance, a huge loss for the industry. May her soul rest in peace," he tweeted.

Choreographer Farah Khan said she was among the countless artistes who were inspired by Khan's work.

"Rest in peace Sarojji... You were an inspiration to many, myself included. Thank you for the songs," she wrote on Twitter.

Choreographer-turned-filmmaker Remo D'Souza said, "#RIP Saroji, you will be missed... Big loss to dance fraternity."

Actor Taapsee Pannu said she will forever cherish the memories of working with the veteran choreographer.

"At least I had a chance to dance in your company. I am going to hold on to those memories tight... real tight. We lose another star to the sky. Your songs will make every girl remember you for ever and ever," the actor tweeted.

Nimrat Kaur said there will be no one in the industry who could do what Khan did in her lifetime.

"Saroj ji’s name introduced the word ‘choreographer’ to my life. A genius who immortalised stars and the music that defined an era with her iconic work. May her loved ones find strength and courage at this terrible hour. There’ll never be another...#RIPSarojKhan #Legend #Masterji" she said.

Genelia Deshmukh said she is grateful to have worked with the legendary artiste.

"RIP Saroji ... I thank God I got a chance to be choreographed by you...Prayers and Strength to the Family... #SarojKhan" she said.

"Woke up to the heartbreaking news of the legendary choreographer #SarojKhan’s demise. Her iconic dance moves inspired me at a very young age. Rest in peace Saroj Ji. You are truly irreplaceable," tweeted Tamannaah Bhatia.

Rakul Preet Singh mourned that her dream of working with Khan will remain unfulfilled.

"Always dreamt of doing at least one song Choreographed by her. Your grace and contribution to Indian cinema shall always be remembered. May your soul RIP. Strength to the family," she said.

Filmmaker Sanjay Gupta said he learnt a lot while working with Khan.

"The first song I conceived 'Tamma Tamma Loge' to 'Dil Dil Dil' the first song of my debut film 'Aatish' we’re choreographed by the legendary Saroj Khan. Learnt so much from her. RIP Saroj Ji and keep smiling like you always did," he wrote on the micro-blogging site.

"Saroj Khan my beloved Masterji. #RIPSarojKhan From Music Videos to films we had a long journey together. Now you’ve left me and gone. I will do and make what we spoke about one day, my promise to you," tweeted filmmaker Kunal Kohli.

Khan, a three-time National Award winner, was not keeping well for some time. She was admitted to Guru Nanak Hospital in Bandra last Saturday after she complained of breathing issues. She had tested negative for Covid-19.

The veteran choreographer is survived by son Raju Khan and daughter Sukaina Khan.

Her funeral was held on Friday morning at a cemetery in suburban Malad.