February 4, 2023


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Chinese billionaire Jack Ma loses control of the Ant. The creator of Ali Baba is hiding from the regime

Jack Ma now directly owns about 10 percent. He votes in the Ant Group, but controls the company through related entities, including Hangzhou Yunpu. After the changes, you will only keep 6.2 percent. sounds.

The changes are intended to ensure that no shareholder controls the Ant Group – CNN reports. The board of directors is mostly made up of independent directors. The company said the change in voting structure would make it “more transparent and discrete”. At the same time, “it will not affect the economic interests of any of the shareholders.”

“Last year, Ant Group announced a comprehensive restructuring of its operations to allay the Antitrust Bureau’s concerns about unfair competition and the amount of data being collected on users” – they say Trade news.

Find out more at Gazeta.pl home page

Alibaba Founder Problems

In 1999, an IT teacher from Hangzhou founded Alibaba, which over the next two decades became one of the major technology concerns not only in Chinabut also in the world In October 2020, Bloomberg estimated the wealth of the Chinese businessman at PLN 61 billion dollar.

In 2019, Jack Ma resigned as CEO of Alibaba, but continued with a number of other business ventures. And it was one of them – the Ant Group – that directed the wrath of the Chinese regime against him. At the end of 2020, the company that Ma was the largest A shareholder, and Ant is a company from the financial technology industry, that is, working in the front Finance technology. It is the operator of Alipay, the main online payment system in China.

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Jack Ma is hiding from the Chinese regime

However, Ant’s IPO was suddenly canceled, and Jack Ma himself disappeared into thin air.

A Chinese billionaire was forced to leave the country because of his statements about the financial market, which angered the communist regime against him. Ma was critical of traditional banks, comparing them to pawnshops and touting the benefits of digital banking, saying credit decisions in the future should be based on data, not customer guarantees.

Over the next two years, Jack Ma did not appear in public, and almost no one knew where he really was. There has even been speculation that the businessman may have been just another victim of the Chinese regime.

Meanwhile, the media reported that Jack Ma and his family were staying at the house TokyoAnd United States of America And Israel. But this week he was seen in Bangkok – “betrayed” by the chef and owner of the famous street restaurant Jay Fai. The Michelin-starred chef snapped a photo with Ma and posted the photo on Instagram.