Chinese billionaire Jack Ma, co-founder of Alibaba Group, lost $30 billion from his personal fortune due to a nearly two-year dispute with Chinese authorities. It has been reported business insider.
The businessman’s fortune fell to a record after the Chinese central bank announced a 7.12 billion yuan ($985 million at current exchange rate) penalty to tech giant Ant Group, founded by Ma.
As of July 12, Ma’s fortune is about $30 billion – half of his personal finances in October 2020 before the conflict with Beijing.
The billionaire fell out of favor in October 2020 after his speech criticizing China’s financial regulation system. Soon, Chinese regulators became closely involved in all of Ma’s business, including Alibaba and Ant. At that time, Beijing also stopped Ant’s IPO.
The billionaire, once China’s most famous entrepreneur, has been hiding and avoiding recognition since the fall of 2022. They met in the Netherlands, Spain, Australia, Thailand and Japan, but did not meet at public events. in March he came to china go to one of the schools.
According to the unofficial version, Beijing tried to persuade Ma to return to the mainland to continue working in the country, but the Chinese businessman chose to stay abroad and leave their company. According to sources, Ma now resides permanently in Tokyo. in May he went to work As visiting professor at Tokyo College, University of Tokyo.
Previously recognized About the huge losses of Ant Group and Alibaba due to the conflict between Jack Ma and Beijing.