The IPO also made Ma the richest person in China, with a net worth of around $25 billion at the time.Ma's wealth has grown since, but he has dropped to the fourth-richest man in China, as other people eclipsed even his net worth of some $50 billion.Ma founded Ant Group, formerly called Ant Financial, in 2014. The company is an affiliate of Alibaba, and owns digital payment platform Alipay.
The Wall Street Journal reported that Ma offered to give parts of Ant Group to the Chinese government when meeting them on November 2 2020, but China still went ahead with the rule change.Ted S. Warren-Pool/Getty Imagesthat Ma told regulators:"You can take any of the platforms Ant has, as long as the country needs it."
An Alibaba spokesperson blamed scheduling conflicts:"Due to a schedule conflict Mr Ma could no longer be part of the finale judge panel of Africa's Business Heroes earlier this year ." On December 23 2020, Chinese regulators launched an antitrust investigation into Alibaba. Ma still owns a 8.9% stake in the company.they were investigating Alibaba Group Holdings Ltd over"suspected monopolistic practices".
Good man he will be safe there
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