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Alibaba's Jack Ma loses $11 billion in two months amid Chinese crackdown Alibaba co-founder Jack Ma wealth has dwindled to $50.9 billion from a peak of $61.7 billion, making him the 25th richest person in the world, according to the Bloomberg Billionaires Index BusinessToday.In | December 30, 2020 | Updated 12:26 IST Alibaba co-founder Jack Ma who is often linked to the meteoric rise of China's internet sector was poised to reclaim the title of Asia's wealthiest person when his net worth reached a peak of $61.7 billion this year Alibaba co-founder Jack Ma's net worth has toppled around $11 b...

(Dec 30): Jack Ma’s net worth has tumbled by almost US$11 billion since the end of October, as China stepped up scrutiny of his empire and the country’s tech behemoths. The 56-year-old former English teacher — often associated with the meteoric rise of China’s internet sector — reached a peak of US$61.7 billion this year and was poised to regain the title of Asia’s wealthiest person. Now, with a fortune of US$50.9 billion, he’s since slipped to 25th on the Bloomberg Billionaires Index, a list of the world’s 500 richest people. While the co-founder of Alibaba Group Holding Ltd ...

Chinese E-Commerce Group Buying Increases Power of Local Leaders Bloomberg 12/16/2020 Coco Liu (Bloomberg Businessweek) -- While managing her convenience store in the central Chinese city of Changsha, Chen Shishun always has an eye on her phone. In part, she’s just talking on WeChat and sharing photos with her improbably large network of friends and neighbors. But Chen also monitors grocery apps for bulk deals on fruits and vegetables, then gathers orders from people she knows and has the food delivered to her store. Popular Searches The role of neighborhood e-commerce mid...