In 2001, Cape Town-based Naspers invested $32 million in Tencent, an investment that has grown to more than $80 billion today.
Tencent – owner of the messaging app WeChat – is the most valuable company in China.
Today Naspers owns 34% of Tencent, the fourth largest internet company in the world after Amazon, Google and Facebook.
Short discussed Tencent and what it does as well as the truth-is-stranger-than-fiction story behind what must be the best investment ever.
Listen to the wild story in the audio below (and/or scroll down for quotes from it).
The face of Tencent is Pony Ma. He’s been involved since the start. He’s reserved and not a celebrity.— Philip Short
In the mid-2000s Tencent went into online gaming.— Philip Short
WeChat only came along in 2012.— Philip Short
Tencent gets people to play their addictive games for free for up to one or two stages. From there on you have to pay.— Philip Short
Tencent owns an Uber-like business that pushed Uber out of China.— Philip Short
Tencent’s online advertising is growing at 60% per year.— Philip Short
Tencent has just started monetising mobile payments.— Philip Short
We still see ample opportunities in Naspers.— Philip Short
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Recommendedby THE NEWSROOM
Invest yourself rich. Consider buying Naspers (and the two other shares discussed in this stock pick feature).
We interviewed Naspers CEO Bob van Dijk about the perceived over-reliance of his company on Chinese behemoth Tencent.
Internet services company Tencent Holdings, in which Naspers has a 34 percent stake, has surpassed Facebook in brand value.
The Chinese tech-firm will pay R1.5bn for a 15 percent stake in the US developer famous for its hit "Kim Kardashian: Hollywood”.
Naspers is expensive, but geared for growth. Ashburton Investments’ Nick Crail on why you should just be brave and buy its shares.
Bruce Whitfield speaks to historian Professor Lizette Rabe about the story of the Nasionale Pers.
‘Buying something at a price today, it falls tomorrow, then it’s up the next day - that’s not investing, that’s speculating.'
A woman mistakenly shared a naked photo of herself on a parent Whatsapp group and now it's gone viral.
Loo Me is a simple yet effective scented foam that takes the yuck out of "mellowing" toilets preventing multiple flushes.
"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.