Complete News World

Alibaba founder-billionaire Jack Ma is also quitting his internet empire – News

Alibaba Founder – Billionaire Jack Ma Continues To Pull Back From Internet Empire – News – SRF

Skip to content


  • Chinese billionaire Jack Ma is giving up control of the financial giant Ant Group.
  • Thus, the founder of the largest Chinese trading platform, Alibaba, is withdrawing from his Internet empire.
  • The move comes amid China’s crackdown on the technology.

This pops up from a message from the Ant group. Chinese supervisory authorities blocked the fintech giant’s planned initial public offering two years ago and, since then, have kept the booming tech sector in check.

Ant subgroup

open box
Close the box

Ant Group, formerly known as Ant Financial, is a subsidiary of Chinese financial technology giant Alibaba Group. Other subsidiaries are or AliExpress.

The departure of the apparently disgraced founder could reignite Ant Group’s IPO plans. However, Chinese stock markets require a waiting period of two to three years after these corporate governance changes. Hong Kong, on the other hand, only has one year.

Prohibition of subscription

Ant Group is behind the Chinese mobile payment system Alipay with more than 1 billion users. A planned IPO for 2020 was to be the world’s largest at $35 billion and fell through at the last minute due to regulatory authorities.


Jack Ma, billionaire and founder of the Alibaba Group.

ARCHIVES / REUTERS / Charles Plateau

Since then, the 58-year-old billionaire has largely withdrawn from the public eye. According to press reports, he lived longer in Japan last year and was accidentally spotted in Thailand last week.

SRF 4 News, 01.07.2023, 10:00 AM;

Well informed at all times!

Receive all the news directly through the browser and stay up to date.


Well informed at all times!

Receive all the news directly through the browser and stay up to date. more

Push notifications are brief notifications on your screen containing the most important news – regardless of whether is currently open or not. Click on one of the links to go to the corresponding article. You can opt out of these communications at any time. less

I’ve already hidden this notice about activating browser notifications a few times. Do you want to permanently hide this notification or remind you again in a few weeks?

Most read articles

Go left

Go to the right