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Once Chinas richest tech tycoon, Jack Ma may now be worth $30 billion, which is less than half of his peak wealth before the failure of the biggest IPO in history in 2020. Jack Mas 9.9 per cent stake in Ant Group Co is now estimated to be worth $4.1 billion less than almost a year ago, according to the latest update on Bloomberg Billionaires Index.
The 58-year-old tycoon has a 9.9% stake that’s now estimated to be worth $4.1 billion less than almost a year ago, based on the share buyback, average analyst estimates and Fidelity Investments’ valuation, according to the Bloomberg Billionaires Index.
Once China’s richest person, Mr Ma could now be worth about US$30 billion, less than half of his peak fortune. Read more at straitstimes.com.
(Bloomberg) -- Jack Ma’s fortune is dwindling further as a planned repurchase of shares reveals a much reduced valuation for Ant Group Co., the payments business he co-founded.Most Read from BloombergTurkey Agrees to Back Sweden’s NATO Bid in Boost to AllianceMove Over Dubai. This Tiny Emirate Wants to Be the Next Haven for BillionairesErdogan Just Doomed Turkey's EU MembershipPoisoned Cough Syrup Killed Kids. Authorities Cut the Investigation ShortMicrosoft Cleared to Buy Activision in US as UK
Each investor would be allowed to sell up to 7.6% of their equity rather than cashing out completely, according to a person familiar with the matter, asking not be identified discussing private details of the arrangement.