Alibaba founder Jack Ma is no longer the richest man in China

Founding father of Chinese language e-commerce large Alibaba and one among the richest enterprise individuals in the world Jack Ma, He was recorded as the richest particular person in China in 2019 and 2020. However based on the billionaires index up to date this 12 months, Ma and his household It fell to fourth place with a fortune of 360 billion yuan (408.3 billion TL).

Above Jack Ma had been Zhong Shanshan of bottled water producer Nongfu Spring, Pony Ma of Tencent Holding, and Collin Huang of e-commerce startup Pinduoduo.


Jack MaIn his speech in October 2020, he criticized market regulators and state banks in China for being “behind the occasions”.

Following the criticism in query, the Beijing administration stopped the simultaneous public providing of Ant Group, of which Ma is the founder, on the Hong Kong and Shanghai inventory exchanges, and likewise launched an antitrust investigation in opposition to Alibaba Group.

jack ma

After these developments, Jack Ma, who allegedly disappeared or was arrested as a result of he didn’t seem in entrance of the cameras for a very long time, later reappeared throughout a gathering and gave the message “We are going to see you when the coronavirus is over”.

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In response to the report revealed in the previous months, the whole monetary worth of Alibaba, Ant Group and Tencent has reached $ 2 trillion, which is nicely above the monetary worth of the Financial institution of China, which is managed by China.

Alibaba and have dominated the retail market in China. The 2 firms maintain about two-thirds of e-commerce in the nation.

Disturbed by this case, the authorities had ready a brand new invoice to forestall the progress of e-commerce giants.

Alibaba has greater than 881 million energetic cell customers in the nation. The inhabitants of China is roughly 1 billion 400 million. This example worries the Chinese language authorities.

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