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
Kamala Harris Gives Herself a Pep Talk Ahead of Election Day During ‘SNL’ Appearance
Musk $1 Million Contest Survives Lawsuit by Philadelphia DA
Invisible money, Trump's heir and more: The election lessons we learned in 2024
Joe Rogan endorses Trump after Musk interview
Soda is making a comeback
Sean ‘Diddy’ Combs’ birthday meal in prison revealed as disgraced mogul turns 55 behind bars
‘I think it’s over’: Democrats despair as Trump runs up the score in battlegrounds
Affleck’s 3-word response to Lopez question
Harris appeals to Gaza war critics as Trump intensifies violent rhetoric