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BEIJING (Bloomberg): China’s top economic official gave an unusual public show of support for digital platform companies Tuesday (May 17), suggesting Beijing may be ready to let up on a year-long clampdown on technology giants as it battles a slowing economy.
After more than a decade of toiling in Tencent’s shadow, NetEase’s gaming empire now surpasses Activision Blizzard Inc or Electronic Arts Inc in revenue in large part because of its reputation as a champion of developers, willing to bet on creative talent.
The strength of the rebound in Chinese and Hong Kong shares added $71 billion to the combined fortunes of the mainland's richest people.
Billionaire Tesla and SpaceX chief executive Elon Musk has sold seven homes worth roughly $174 million since he pledged to sell off his physical possessions.
Billionaire Tesla and SpaceX chief executive Elon Musk has sold seven homes worth roughly $174 million since he pledged to sell off his physical possessions.