
Ant-linked Firms See Shares Rise Markedly Following Jack Ma Control Relinquishment
Several Ant-linked firms experienced a notable increase in the value of their shares after a Ma organizational development.
Jack Ma is a Chinese business magnate, investor, politician, philanthropist, and kung fu master.
Jack Ma, or Ma Yun, is a Chinese business magnate, investor, politician, philanthropist, and kung fu master. He is the co-founder and former executive chairman of Alibaba Group, a multinational technology conglomerate. Ma is a strong proponent of an open and market-driven economy.
A prominent business leader, Ma is seen as a global ambassador for Chinese business and as such is frequently listed as one of the world’s most powerful people & world’s 20th Richest Person by Bloomberg Billionaires Index & Forbes. He also serves as a role model for startup businesses. In 2017, he was ranked second in the annual “World’s 50 Greatest Leaders” list by Fortune. In September 2018, he announced that he would retire from Alibaba and pursue educational work, effective in one year, with Daniel Zhang succeeding him as executive chairman.
As of 2 February 2019, he is China’s richest man, with a net worth of $41.1 billion, as well as one of the wealthiest people in the world and also was ranked 21st in the world by Forbes Magazine’ World’s Most Powerful People.
Alibaba
Sep 10th, 1964
Chinese
Hangzhou Teacher's Institute, B.A. in English - 1988
61
$25.0 B
Alibaba - Co-founder
Alibaba - Executive Officer - 1999 - 2019
Hangzhou Haibo Translation Agency - Founder - 1994
Hangzhou Dianzi University - Lecturer in English and International Trade - 1988
Several Ant-linked firms experienced a notable increase in the value of their shares after a Ma organizational development.
Jack Ma’s giving up control has already pushed the timeline of the IPO launch for three years on Shanghai’s STAR Market.
According to the 2022 IPO Prospectus, Jack Ma commands 50.52% of Ant shares through related entities.
Alibaba shares retraced after Ant said that it had no interest in an IPO. The planned IPO would have been the biggest in history.
In the early trading hours in Hong Kong, the Alibaba stock had a 9.4% pullback, erasing about $26 billion off its value.