The Chinese-born billionaire now has a net worth of $19.8 billion, according to the Bloomberg Billionaires Index, after Sea Group’s certificates of deposit (security issued by American banks) surged 67% in the year.
Singapore’s second-richest person is painting tycoon Goh Cheng Liang with a net worth of $17.7 billion.
According to Bloomberg, this is yet another example of how tech billionaires have risen in wealth rankings in countries across Asia.
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Sea is currently the most valuable company in Southeast Asia. The company has recently grown into fintech beyond games and e-commerce, and expanded beyond the region.
Last December, Sea was grante Chinese Malaysia Phone Number List a digital banking license by Singapore and acquired Bank PT Kesejahteraan Ekonomi (also known as BKE bank) of Indonesia.
Both moves will allow the group to grow its SeaMoney business, which is not only payments but also lending, insurance, wealth management and other financial services, according to Bloomberg Intelligence analyst Nathan Naidu.
Money is the Company’s Financial and Digital Payment Services
In the second quarter of the past, the total payment using SeaMoney’s e-wallet service reached more than 4.1 billion USD, an increase CMB Directory of nearly 150% compared to a year earlier. On August also said that Sea’s revenue increased 159% to $2.3 billion in the second quarter.
Sea’s success largely comes from its core business, the mobile game Free Fire, which has more than 1 billion downloads from Google Play.
