The company owns WeChat, an enormously popular messaging app in China, and hit gaming franchises such as League of Legends and Honour of Kings.
Tencent's market cap has furthermore than tripled ever since March 2014 when it attained $150 billion, exceeding Intel in the course.
China's social media and video game giant Tencent overtook Facebook in market value on Tuesday as investors sent the company's shares soaring to the top five list of the world's biggest firms. Tencent's stock this year alone is up 126.69 percent. Alibaba is now the world's seventh largest company, with a market value of $481 billion, according to Bloomberg.
Tencent is certainly creeping up on US based firms like Facebook, with its $520.14 billion and Amazon, now valued at $544.46 billion.
South Korea postpones university exam after rare natural disaster
Analysts were monitoring "unusual seismic activity" in North Korea, the head of the nuclear test monitoring agency CTBTO said . Nuclear power plants in Gyeongju and the surrounding areas are reported to be safe and unaffected by the natural disaster .
The valuation pushes Facebook out of the Global Top 5 companies for most valuable stocks, which now features Apple, Google's parent Alphabet, Microsoft, Amazon and now Tencent. Online and mobile games brought in over US$4 billion in sales last quarter.
Tencent also acquired a majority stake in Finnish smartphone maker Supercell, the firm behind the popular Clash Of Clans mobile game.
Their genuine prowess aside, the Financial Times points out that the rise of China's tech giants has been greatly aided by Beijing's ban on the USA titans - Facebook, Twitter, YouTube and Google.
Other fast-growing parts of the business include digital content such as video, as well as online advertising. Its market capitalisation, or total value of all the shares in circulation, stood at 3.99 trillion Hong Kong dollars ($510.7 billion) at the market close. The company has also invested in a number of Asian based start-ups including Uber's Indian rival, Ola.