Chinese professor loses RM10.13bil after SenseTime slumps


The fall of SenseTime occurred after the lock-up period on a portion of shares held by cornerstone investors and stakeholders expired a day earlier. — SenseTime

A co-founder of SenseTime Group Inc lost almost half of his fortune after shares of the artificial intelligence giant plummeted as much as 51% on June 30.

Tang Xiao’ou, a Massachusetts Institute of Technology graduate and information engineering professor at the Chinese University of Hong Kong, has a 21% stake in the company. His net worth plunged by about US$2.3bil (RM10.13bil) to US$2.9bil (RM12.77bil), based on the intraday share price, dropping him off a list of the world’s 500 richest people, according to the Bloomberg Billionaires Index.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Billionaires

   

Next In Tech News

Emerson proposes to acquire remaining shares of AspenTech at $240 apiece
Data analytics firm Palantir jumps as AI boom powers robust software adoption
Tax fraud investigators search Netflix offices in Paris and Amsterdam, says source
Singapore's Keppel to buy Japanese AI-ready data centre
Tesla increases wages for staff at German gigafactory by 4%
Apple explores push into smart glasses with ‘Atlas’ user study
Japan's Kioxia sees flash memory demand almost tripling by 2028
Hacker gets into woman’s email, changes every password, tries to make purchases
Foxconn says Oct revenue +8.59% y/y, Q4 outlook good
Want to help a friend find love? Give a PowerPoint presentation

Others Also Read