Businessman Jack Ma has relinquished control of Ant Group, a technology company he owned. This comes after the Government of China carry out a campaign against various companies in this field, something that the company has gone through on several occasions since 2020.
For several years, Jack Ma was seen by the public as one of the most successful cases in the business model of Chinanevertheless, After a fight with banking regulators in 2019, accompanied by a larger effort by the Beijing government to bring multibillion-dollar company owners back into the fold, Jack Ma left his country and relinquished control of his parent company, the e-commerce giant Alibaba.
Now, through a statement from the Ant Group company, it was learned that Ma ceased to have full control of the company and became one of the 10 main shareholders in a move similar to what happened with his previous company. From the group based on China They indicated that it is an “optimization of corporate governance”, although they did not indicate more details. What they did affirm is that it will not change the day-to-day work because the tycoon currently does not have an administrative role either.
“As a result of this adjustment, the role and division of shareholders will be more transparent and diverse, which will facilitate the constant development of the company,” the company stated in the same statement.
Where is Jack Ma?
After his fight with Xi Jinping’s governmentMa disappeared from the public eye, and although at one time there were fears for the tycoon’s physical integrity, after a while it was learned that he was traveling the world.
Although the latest information available was that he lived in Tokyo, where he frequents bars visited by various businessmen and billionaires exiled from his country, It was learned these days that he was in Bangkok, where he was photographed in a street restaurant and watching a Thai boxing match.