Jack Ma's wealth falls $12 billion in 2 months amid Beijing scrutiny - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 51%

Ireland News News

Jack Ma's wealth tumbles by $12 billion in 2 months as China seeks to shrink the billionaire's financial empire

Pan Gongsheng, a deputy governor at China's central bank, said Ant had become indifferent to China's regulations, accusing the fintech of "turning a blind eye to compliance requirements," theBank of America highlights its top 8 stock picks in the booming housing sector — including one it expects to rally 54% next year

Although Ant has transformed its business multiple times in accordance with regulatory oversight, the central bank deputy governor said this weekend that it "must integrate its development into the overall plan of the country's development." China's order comes after Ma suggested giving up parts of Ant to the Chinese government. "You can take any of the platforms Ant has, as long as the country needs it," the billionaire told regulators at a November 2 meeting, according toBut his offer failed to win acceptance, as China was unwilling to give up on a full crackdown.Read More:

Peloton has climbed 415% this year. We asked 3 analysts — including one who expects a 78% stock decline — for their 2021 outlooks with the prospect of gym restrictions easing.Start your day knowing what traders are talking about.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

morgfair Horror. Only 51 billion left.

My stock in Alibaba hasn't been affected yet...

His number worth nothing if the one at the beginning is changed to zero.

Dictators hv to go join an another closely at a border

China not sharing wealth 🤣

Always kiss the ring. Be careful who you piss off with authority over you if you cant win the war.

Na wa

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines