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 NEWSROOM AI
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.
The choir has been wowing TV audiences in the US and across the world with their energetic performances.
Large eye stickers are being stuck to the bottom of surfboards in order to deter sharks.
Daily Maverick associate editor at Scorpio Sikonathi Mantshantsha takes a look at the week's financial news.
The feline was found by detectives at a property in Athlone on Wednesday following a tip-off.
Alderman Marian Nieuwoudt, Mayco Member for Spatial Planning and Environment, City of Cape Town explains.
The inspiring South African choirU2's Beautiful Day at America's Got Talent quarter-finals.
Magda Wierzycka – Sygnia’s renegade CEO – on her attitude toward money (hopes and fears, successes and failures, etc.).
The reason for the leakage has been revealed, explains Table Mountain Aerial Cableway MD Wahida Parker.