Photo: Time Magazine
China Slaps $2.78 Billion Fine On Alibaba For Market Irregularities
Jack Ma-owned e-commerce giant Alibaba has been slapped with a whopping fine of $2.78 billion by the Chinese market regulators. Accused of malpractices and misusing market-dominant position, Alibaba is under investigation radar since December 2020 when Jack Ma had criticised the Chinese government’s regulating agencies. The amount of fine imposed was four percent of Alibaba's 2019 sales of 455.7 billion Yuan.
Tags: Jack Ma, Alibaba, China, Chinese Regulator
Courtesy: NDTV
Photo: National Herald
Missing Chinese Billionaire Jack Ma Appears For 1st Time Since Oct 2020
Quashing the speculation theory of his persecution, Chinese billionaire entrepreneur Jack Ma on January 20 appeared on a public platform for the first since October 2020. He was seen in an online annual event hosted by him to felicitate the achievements of the rural teachers. Earlier, the co-founder of Alibaba and Ant had gone missing after he had a spat with the Chinese government that led to an open investigation into the empire of the tech… read-more
Tags: Jack Ma, China, Alibaba, Xi Jinping
Courtesy: NDTV
Photo: The Economic Times
Billionaire Jack Ma Suspected Missing Amidst Chinese Scrutiny
Chinese billionaire and 'Alibaba' owner Jack Ma is speculated to have been abducted as his whereabouts are unknown since November 2020. Ma's disappearance came into light after he was replaced by another Alibaba executive as a judge in his show 'Africa's Business Heroes' for its final episode. Reportedly, the Chinese regime had started cracking-down on Ma's Alibaba and ANT group following his criticism of the country's financial regulation… read-more
Tags: Jack Ma, Alibaba, Ant Group, China
Courtesy: Business Today
Photo: Office Chai
Ant Group Halts IPO Process; Jack Ma Loses $3 Billion
Ahead of the world's biggest Initial Public Offering (IPO), Ant Group's listing at the Shanghai and Hong Kong markets was halted after the company's owner Jack Ma was called for a "supervisory interviews". Also, Ma lost $3 billion after Alibaba's shares at the New York trading slipped by 8.1%. The IPO, which attracted orders worth $3 trillion, would have propelled Jack Ma to become Asia's richest person.
Tags: Jack Ma, Ant Group, IPO, Regulatory Filings
Courtesy: Live Mint
Photo: Newstrack
China's Ant Group Eyes World's Largest Share Market Debut
Alibaba's founder Jack Ma-backed Chinese fin-tech giant Ant Group is eyeing to make world's largest share market debut by selling stocks worth $34.4 billion. The company plans to sell only 11% of shares on Hong Kong and Shanghai stock markets on November 5. Reportedly, investors from Singapore and Abu Dhabi have already shown interest in purchasing shares. Ant Group owns digital payment app 'Ali Pay' and offers various financial services.
Tags: Jack Ma, Ant Group, Alibaba, Investment
Courtesy: BBC
