March 29, 2023



Jack Ma to give up control of fintech giant Ant Group

BBC News

By Tom Espiner

January 8, 2023

The billionaire founder of Ant Group, Jack Ma, is to give up control of the Chinese fintech giant after a regulatory crackdown.

Ant Group said that after the change no-one would have overall control.

The formerly flamboyant Mr Ma has seldom been seen in public since criticising China’s financial sector in 2020.

Following that criticism, Ant Group’s planned stock market flotation was abruptly halted.

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