Alibaba Recoups Losses after State Media Reportage Rubbed $26 Billion Off Its Value
By John K. Kumi May 3rd, 2022
In the early trading hours in Hong Kong, the Alibaba stock had a 9.4% pullback, erasing about $26 billion off its value.
Jack Ma
Jack Ma is a Chinese business magnate, investor, politician, philanthropist, and kung fu master.
About
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.
Click to see more
- Known for:
Alibaba
- Born:
Sep 10th, 1964
- Nationality:
Chinese
- Education:
Hangzhou Teacher's Institute, B.A. in English - 1988
- World wealth rank:
60
- Net worth:
$23.5 B
- Other Projects:
Alibaba - Co-founder
Alibaba - Executive Officer - 1999 - 2019
Hangzhou Haibo Translation Agency - Founder - 1994
Hangzhou Dianzi University - Lecturer in English and International Trade - 1988
Community
News About Jack Ma
Chinese State-Owned Firms, Banks to Report Exposure to Ant Group
By Kofi Ansah February 22nd, 2022
The latest round of examination on Ant Group, led by China’s National Audit Office was the most extensive yet even though the reason for the latest round of inspection, was unclear.
Chinese Regulators Seek to Split Ant Group’s Alipay in Latest Crackdown Effort
By Benjamin Godfrey September 13th, 2021
Chinese regulators have a bitter history with Ant Group beginning with Jack Ma’s criticism of national watchdogs, a trend that angered President Xi Jinping.
Zomato Secures $562M from Investors Ahead of India IPO
By Kofi Ansah July 14th, 2021
According to a filing to local stock exchanges, Zomato revealed that it plans to raise a total of $1.3 billion through the IPO and has achieved 45% of that figure with its latest funds.
Didi Faces China’s Regulatory Hammer, Shares Drop 25%, Now Down 17%
By Oluwapelumi Adejumo July 6th, 2021
Chinese officials reached out to the company to disclose their concerns “about Didi’s data potentially falling into foreign hands”.