Jack Ma’s total assets have grown to around $ 11 billion since the end of October as China has defied the technology of its empire and country.
The 56-year-old former English teacher – often associated with the meteoroid of China’s Internet sector – reached a peak of $ 61.7 billion this year and is set to earn the title of Asia’s richest person. Now, with a fortune of $ 50.9 billion, he has since slipped to 25th on the Bloomberg Billionaires Index in the list of the 500 richest people in the world.
Although the co-founder of Alibaba Group Holding Limited has been at the center of the clampdown, he is not feeling the only squeeze.
In a note, Sanford C. Bernstein analyst Kavin Quick said that regulatory risk is a major risk factor for the Ant Group. We think that this news will have a continuous negative impact on the listing and we believe that most investors will remain optimistic on the positive log-term prospectus of ANT. However, given the signs of regulatory intervention, investors may reconsider their perception.
Ant’s co-founder and China’s most powerful businessman, Jack, was summoned by China’s central bank and three other financial regulators. Jack Ma then had a meeting with the central bank and other financial regulators on Monday. However, the information discussed in this meeting has not been revealed. According to sources familiar with the matter, ANT’s leadership team has said that regulatory scrutiny could increase on the company. Also the capital may be banned.