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  • Jack Ma’s Fortune Jumps $2.3 Billion After Record Alibaba Fine

    From bnnbloomberg.ca

    China just slapped a record antitrust fine on Alibaba Group Holding Ltd. The company thanked the government and investors breathed a sigh of relief. Alibaba’s American depositary receipts climbed 9.3% on Monday in New York, their biggest jump in almost four years. For Jack Ma, the founder of the e-commerce giant, it meant his fortune increased by $2.3 billion to $52.1 billion, according to the Bloomberg Billionaires Index. 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. While the ... (full story)

Is he still missing?

Edit:

Chinese billionaire Jack Ma is back in the news again after he recently reappeared for the first time in months. The 56-year-old recently interacted with 100 rural teachers via a video meeting, according to a local government media report. It marks the billionaire's first appearance since late October.
oot a lil funny to think a communist fine due to anti monopoly, where's domination means stability. and the west doesn't care as long as the production cost is as cheap as dirt slavery.
The Chinese government fine against her billionaire citizen Jack Ma, revealed his dominance in their economy.
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  • Story Stats
  • Posted: Apr 12, 2021 7:54pm
  • Submitted by:
     Newsstand
    Category: Entertainment News
    Comments: 3  /  Views: 1,488