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Jack Ma's fortune jumps $2 billion after record antitrust fine on Alibaba

Read more about Jack Ma s fortune jumps $2 billion after record antitrust fine on Alibaba on Business Standard. The $2.8 billion fine is less severe than some investors feared and is based on only 4% of the company s 2019 domestic sales, far less than the maximum 10% allowed under Chinese law ....

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Global investors value China's Ant Group at over $200 billion: Report

Read more about Global investors value China s Ant Group at over $200 billion: Report on Business Standard. The number is far short of the $315 billion Ant touted for what was set to be the world s largest IPO ....

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China orders Jack Ma to dispose of its media assets with Alibaba group

Taking its war against billionaire Jack Mas empire to a new level, the Chinese government has reportedly asked his conglomerate Alibaba to dispose of its media assets.
According to a The Wall Street Journal report citing people familiar with the matter, Chinese officials are more concerned about the technology giant s sway over public opinion in the country .
Alibaba expanded its footprint in the media sector by acquiring the South China Morning Post, an English-language newspaper launched 118 years ago in Hong Kong.
The company also has notable media holdings in mainland China, including technology news site 36Kr, state-owned Shanghai Media Group, stakes in the Twitter-like Weibo platform and several popular Chinese digital and print news outlets. ....

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Jack Ma's reappearance buoys Alibaba, fails to soothe all investor concerns

By Megan Davies, John McCrank and Ross Kerber
NEW YORK/BOSTON (Reuters) - Jack Ma s 50-second video reappearance may have buoyed Alibaba Group s shares, yet it has done little to resolve the Chinese e-commerce giant s troubled relationship with regulators that is making some investors hesitate about owning its stock.
The company s American Depositary Receipts (ADRs) rose more than 5% on Wednesday, following a 8.5% gain in its Hong Kong-listed shares, after founder Ma made his first public appearance since October on Wednesday.
Ma had not appeared in public since Oct. 24, when he blasted China s regulatory system. That set him on a collision course with officials and led to the suspension of a blockbuster $37 billion IPO for Alibaba s financial technology affiliate Ant Group. ....

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'He is laying low': Jack Ma's local bar awaits its most famous regular

Business was brisk at the HHB Music House on a recent Thursday night. The live music venue, located just a short taxi ride from Alibaba Group Holding Ltd.’s headquarters, was crowded, with virtually all of the dozen or so tables and booths occupied by Jack Ma fans ordering Alibaba-themed cocktails with their Alibaba mobile app in the dark and listening to cover songs by the house band. Many were probably hoping to catch a glimpse of its most famous customer, who hasn’t been seen or heard since November.
Ma, who used to come at least once a month to the bar that was opened by Alibaba executives in early 2019, hasn’t been around since late last year, said one worker, who would only speak on the condition of anonymity. HHB, which stands for “Happy Honey Badger,” an animal known for its ferocious fighting abilities that Ma modeled himself after, is a shrine of sorts to the man who put China Inc. on the map. In the lobby were a few copies of “This Is Ma Yun,” a biog ....

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