Alibaba's Jack Ma intends to relinquish control of Ant Group

clock • 2 min read
Ma directly owns about 10% of Ant, but indirectly controls another 50.5%
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Ma directly owns about 10% of Ant, but indirectly controls another 50.5%

It comes during a period of tightening financial regulation in China

Chinese billionaire Jack Ma plans to cede control of fintech behemoth Ant Group, which owns brands like AliPay, Alibaba and WorldFirst. According to The Wall Street Journal, Ant Group is seeking...

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