James Peng, chairman of autonomous driving company Pony.ai, has reached billionaire status as the company’s stock surged 41% since its Nasdaq IPO in November 2024, including a 23% jump in the last two trading days.

This rise boosted Peng’s 17% stake to US$1.1 billion, according to the Bloomberg Billionaires Index.

The surge aligns with a broader rally in Chinese tech stocks, driven by local startups like DeepSeek and renewed government support for the private sector after President Xi Jinping’s meeting with business leaders, including Jack Ma.

Pony,ai, founded in 2016, develops self-driving software and operates 250 robotaxis in Beijing, Shanghai, and beyond.

It has expanded into South Korea, Singapore, and the Middle East amid geopolitical tensions.

The company has not commented on Peng’s financial milestone.

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