The Costly Clash: Jack Ma's Disappearance and $850 Billion Loss for Ant and Alibaba
TL;DR
Jack Ma's companies, Alibaba and Ant Group, have collectively lost over $850 billion in value since their peak in 2020, following Ma's criticism of Beijing. On Friday, China's central bank announced a fine of $985 million for Ant Group, signaling an end to the regulatory crackdown. Alibaba's market value dropped by $620 billion, while Ant Group's valuation plummeted by 75%. Ma's net worth has plunged from $61 billion to $34.1 billion. Ma has been lying low for over two years, but recently made public appearances and attended events.
- Jack Ma's run-in with Beijing not only saw him disappearing for over 2 years, it also cost his companies over $850 billion Yahoo Finance
- Ant Plans Buyback at 70% Lower Valuation Than at IPO Bloomberg Television
- Jack Ma's Clash With Beijing Costs Ant, Alibaba $850 Billion Bloomberg
- Jack Ma's clash: High cost for Ant Group & Alibaba | World Business Watch WION
- Alibaba (NYSE:BABA) Contemplates Reducing Stake in Ant Group TipRanks
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