The 0.7% rise in the shares of China Internet heavyweight Tencent Holdings to a record high of HK$352 at the Hong Kong Stock Exchange on Friday added anew to the large personal fortune of Chairman Ma Huateng.

Tencent’s market cap vies with Alibaba as the country’s largest, and its vast investment portfolio includes stakes in Tesla,  U.S.-listed China commerce site 58.com, and ZhongAn Online P&C Insurance; its influence in China through its WeChat messaging platform alone is enormous.

The ascent of Tencent’s shares in the past year is also notably adding to the already-large resources Ma has committed to philanthropy and underscores China's rising influence in the world of giving.  Ma in July 2016 set aside 100 million shares from his personal Tencent holdings for the Ma Huateng Global Foundation, Tencent has said.

At that time, the 100 million shares were worth $2.3 billion – a very large commitment. Since then, four million of those shares have already been sold off to fund foundation work, including two million last month, according to Tencent.  After a run-up in the company’s stock price since last July, however, the remaining 96 million shares are worth some $4.4 billion, almost double their value 15 months ago.

Read the full article on Ma Huateng by Russell Flannery at Forbes