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Business Maverick: Super Rich Get Richer on Ant After Striking Early Deals With Jack Ma

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Jack Ma’s Ant Group is creating a new group of super-wealthy people in China while also giving a boost to some older fortunes globally.

tech bet. They’d all established relationships with Ma’s empire before Ant’s financing round two years ago, along with Thailand’s Chearavanonts, the Tungs of Hong Kong and Lu Zhiqiang of China Oceanwide Holdings Ltd.

It’s a similar story for Yin Chung-yao, the son of Taiwanese mogul Samuel Yin, and France’s Mulliez family, who control the Auchan chain of grocery stores. Before they invested in Ant, Alibaba Group Holding Ltd.

 

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