This article is more than
1 year oldJack Ma Cedes Control of Fintech Giant Ant Group
Jack Ma has ceded control of Ant Group Co., capping a tumultuous period for the Chinese fintech giant.
Mr. Ma will no longer be the controlling person of Ant, the company said in a statement on Saturday, confirming a previous report by The Wall Street Journal.
The changes are made to reduce Ant’s reliance on the flamboyant Chinese billionaire, who co-founded Alibaba Group Holding Ltd. BABA 2.70%increase; green up pointing triangle and helped create Ant, the Journal reported previously.
Mr. Ma continues to hold voting rights in an entity that controls Ant, alongside nine Ant executives and employees who were also given voting rights. Together, they jointly control the company, the statement said.
Read More (...)
Keywords
Newer articles
<p>A US judge has ruled against Donald Trump getting his hush money conviction thrown out on immunity grounds.</p>
Luigi Mangione is the new true crime obsession. Here are the 3 upcoming documentaries about him.
Israel shuts down embassy in EU countru
Drones are buzzing around US military bases, even forcing one to close its airspace. They reflect a growing problem.
Huge blow for TikTok in US court
Igor Kirillov: Russia's chemical weapons chief and mouthpiece killed in Moscow
Elon Musk net worth more than Bezos and Zuckerberg combined
FRESH HOPE: Huge update announced in search for MH370
How rich musicians billed American taxpayers for luxury hotels, shopping sprees, and million-dollar bonuses
Suspect in Russian general’s murder recruited by Kiev – officials