Ma vs Ma — Comparing the success of China’s business titans

This appeared in The Millennial Source

In China, being a successful businessman makes you both a symbol of the Chinese economy’s success and a threat to the Chinese political system.

It’s hard to believe that the future of Tencent Holdings Ltd., the champion of China’s tech industry, was in question just over a year ago, but a November 2019 report from CNN Business described the technology conglomerate at the time as being in a “slump.”

According to the report, “investors were dispirited by a lackluster earnings report” and the company’s “net profit for the third quarter dropped 13% compared to a year ago.”

The article went on to paint a more favorable picture of Tencent’s rival, Alibaba Group Holding Limited, which was “riding a very public wave of prosperity.”

CNN reported that Alibaba “once again broke its record for Singles Day, the world’s biggest annual shopping event” that brings in more income than “Black Friday and Cyber Monday combined.”

Singles Day is an unofficial Chinese holiday, celebrated on November 11, in which those who aren’t in a relationship celebrate being single by buying themselves gifts.

The CNN report then reminded readers of Alibaba’s substantial suspected initial…