David Tepper has never been averse to making big bets. Many of them have paid off handsomely and helped make him one of the wealthiest people on the planet. Tepper's net worth of $20.6 billion landed him at No. 94 among Forbes' ranking of the world's billionaires.

The Appaloosa hedge fund manager isn't one to rest on his laurels either. Tepper just made what's arguably a once-in-a-generation bet on one stock.

You might say that Tepper is a bull in the China shop these days. In the first quarter of 2024, he increased Appaloosa's stake in Chinese online retailer PDD Holdings, which operates Pinduoduo and Temu, by nearly 171%. The billionaire investor upped his hedge fund's holdings of Chinese search provider by 188%. He also initiated a new position in Chinese e-commerce company JD.com.

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Source Fool.com