In the given example the ball is swinging HORIZONTALLY around the boy's head and thus gravity and weight are irrelevant because they act perpendicular to the plane of the ball's motion.
And in the case where the ball was swinging vertically, then the max tension would be at the bottom of the swing with:
Tmax = m(v^2/r + g)
while minimum tension would be at the top of the swing:
Tmin = m(v^2/r - g)
and if v^2/r < g then the ball would fail to swing in a perfect circle