In brief: Sea Group founder joins the billionaires club

• Founder and group CEO Forrest Li owns 13.8 percent of Singapore-based Sea Group, a stake now worth roughly $1 billion, according to the Bloomberg Billionaires Index.
• Shares in Sea surged 35 percent to US$21.86 on February 27 – the most since its 2017 initial public offering – after reporting a doubling in sales and robust growth at ecommerce unit Shopee.
• Its mobile game Free Fire is the primary reason why Li is climbing the real world’s wealth rankings. The title is a marquee hit for Sea, with more than 350 million registered users and over more than 40 million players daily.
• According to Sea’s forecast, its 2019 annual adjusted revenue for gaming arm Garena and mobile shopping unit Shopee will double or increase further.

Source: Bloomberg