Tencent pay dividend with JD shares

$Alibaba(BABA.US)$
$TENCENT(00700.HK)$
Tencent was using 100% of its profits on investing into startups during the past 10 years. Ends up holding shares in hundreds of companies, check who is owning Nio, Futu, Xpeng, Pinduoduo, etc.
The esitimated value for these assets are over 1.5T usd.
It is the exact same case for Baba, every single chinese startup is either tencent/baba.(not just chinese ones)
Therefore, i would argue main business for Tencent is not gamming, and the main business for Baba is not e commerce. The main business for them are inventment banks in China. Because that is the most profitable business for them. Why are they even evaluated using gaming/e-conmerce revenue? If they are evaluated this way, the valuation should close to 10x of the current one.

e-commerce bla bla bla is just non sense.