Jack Ma cedes control of Ant Group

Possible preliminary to a relaunched IPO

clock • 2 min read
Chinese billionaire Jack Ma relinquishes control of Ant Group. Image via Wikimedia.
Image:

Chinese billionaire Jack Ma relinquishes control of Ant Group. Image via Wikimedia.

Jack Ma, chairman of China's Alibaba Group, is relinquishing control of Ant Group, moving further away from the business empire he founded decades ago.

It follows China's crackdown on the nation's tech sector, which has at times seemed to specifically target Ma - crushing plans for Ant's IPO in 2020, for example, after he made comments about the c...

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