Forrest Li, chairman and chief executive of Sea Ltd. … [+]
Digital games and e -commerce company Sea ltd. He published the second consecutive year of profitability, sending the shares that received New York, increasing and boosting the property of billionaire President Forrest Li and his two co -founders by $ 981 million at night.
Sea referenced Late on Tuesday that it returned to black in the fourth quarter with a net profit of $ 237.6 million with the back of strong contributions from the e -commerce platform. This brought a net profit for the total of 2024 to $ 447.8 million, up 175% compared to the previous year.
“We have surrendered a large 2024 with all three businesses returning to strong, double -digit growth, exceeding our initial guidance,” said Li, who is also a SEA chief executive, in a statement. “It was also the second consecutive year of annual positive profit, with our three businesses recording a positive EBITDA.”
Shopee will remain a major growth driver this year, with the sea expecting that the value of gross retail platforms is increasing about 20% from $ 100.5 billion in $ 2024.
With the sea undermining its profitability, the company’s shares increased by $ 7.1% to $ 132.31 during the night in New York. That reinforced LI’s net value by $ 575 million in $ 8.4 billion, according to Tower“Real -time data.
Li Cofounded Sea with a Gang of Ye and David Chen in 2009, the year the trio (which is all billionaires) started Garena. Six years later, SEA started Shopee in Singapore and has since become a regional Behemoth e -commerce that is now competing with its opponents, such as Tiktok and Bytedance’s Alibaba. Initially from mainland China, partners are now naturalized citizens of Singapore. Added $ 301 million, bringing its net value to $ 4.9 billion, while Chen’s luck earned $ 105 million in $ 1.5 billion during the night, according to Tower“Real -time data.
