Baku 27° C
Jack Ma’s fortune slumps $3 billion after Ant IPO freeze
Finance
- 04 November, 2020
- 11:27
According to Bloomberg's Billionaire Index, Jack Ma's net worth fell by about $3 billion on Tuesday, after the delayed Ant Group IPO sent shares of Alibaba down by as much as 10%.
According to Report, this follows from Forbes Real-Time data. Alibaba owns a third of the Ant Group. The failure of the IPO caused the company's shares to collapse.
The suspension of the Ant Group IPO came one day after Ma and two top executives of Ant Group were summoned to meet with Chinese regulators. According to Reuters, regulators told the trio that Ant's "lucrative online lending business would face tighter government scrutiny."
According to Bloomberg, even with today's drop in shares of Alibaba, Ma is still worth about $54 billion.
Author
Latest News
12:53
ASCO reports growth in truck and vehicle transport via ferries
Infrastructure12:40
Azerbaijan MFA congratulates Liechtenstein on National Day
Foreign policy12:22
Photo
Azerbaijan's Karabakh, Romania's Maramures agree on cooperation
Foreign policy12:10
Six killed in Israeli strikes on southern Lebanon
Other countries11:58
US Department of State: Azerbaijan meets fiscal transparency requirements
Finance11:45
Atletico Madrid sign Argentina defender Cristian Romero
Football11:30
Azerbaijan MFA congratulates Republic of Congo on National Day
Foreign policy11:14
3x3 Women's Series Sea Breeze stage tips off today
Football10:58
Photo