No. 39: Cussion Pang & Andy Ng | Power 100
CUSSION PANG, 44
CEO/director, Tencent Music Entertainment
ANDY NG, 45
Group vp, copyright management, TME
OVER $1 BILLION RAISED IN ITS IPO: Tencent Music Entertainment Group -- the digital-music division of China's Tencent Holdings -- made its U.S. debut in December when it went public on the New York Stock Exchange at $13 a share, raising over $1 billion in its initial public offering. With financial backers that include Spotify, plus 800 million unique monthly average users as of late 2018, Tencent Music is increasingly influential beyond China. American investors are banking on a remarkably profitable business model that includes virtual tipping and digital karaoke.