Who Is Pony Ma

The founder of China's Internet giant Tencent will donate $2 billion in shares to charity, the company said -- one of the largest gifts ever given in a country whose new super-rich have no tradition of philanthropy.

Pony Ma, Tencent's chief executive, will give the shares to a new foundation for mainland projects in health, education and environmental conservation, among other issues, his company said.

The donation -- which will vest over several years -- appears to be the largest ever by a single individual in China, where there is great public mistrust of charitable organisations battered by years of scandal.

Pony Ma is the 34th richest man in the world with a net worth of $20.2 billion, according to Bloomberg's ranking of billionaires.

In 2014, Jack Ma and Joe Tsai, co-founders of rival Internet behemoth Alibaba, pledged to establish a philanthropic trust funded with shares in the company estimated to be worth $3 billion at the time.

But the country's most generous donor last year was He Xiangjian, founder of appliance maker Midea, who gave 400 million yuan ($61.7 million).