Meituan Dianping CEO's wealth surges to $14.6b

Mr Wang Xing, founder and CEO of Meituan Dianping, striking a gong during the company's debut in Hong Kong in September 2018. Meituan's stock rose 10.4 per cent on Tuesday after it reported better-than-expected revenue, driving its market value past
Mr Wang Xing, founder and CEO of Meituan Dianping, striking a gong during the company's debut in Hong Kong in September 2018. Meituan's stock rose 10.4 per cent on Tuesday after it reported better-than-expected revenue, driving its market value past US$100 billion (S$142 billion) for the first time. PHOTO: REUTERS
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SHANGHAI • Meituan Dianping founder and chief executive officer Wang Xing's fortune has nearly doubled since his company emerged from the depths of China's Covid-19 lockdown, cementing his place among a generation of the country's most prominent technology entrepreneurs.

Meituan's stock rose 10.4 per cent on Tuesday after it reported better-than-expected revenue, driving its market value past US$100 billion (S$142 billion) for the first time and stoking hopes that the world's largest meal delivery business will bounce back as China regains its footing.

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A version of this article appeared in the print edition of The Straits Times on May 28, 2020, with the headline Meituan Dianping CEO's wealth surges to $14.6b. Subscribe