February 2, 2023

Bobbys Brane

Bobbys Brane – Business & Tech Blog

Ant Group says Jack Ma relinquishes control of company By Reuters

1 min read


© Reuters. FILE PHOTO: Jack Ma, founder and executive chairman of China’s Alibaba Group, speaks in front of a picture of SoftBank’s human-like robot named ‘pepper’ during a news conference in Chiba, Japan, June 18, 2015. REUTERS/Yuya Shino/File Photo/File Photo

SHANGHAI (Reuters) – China’s Ant Group said on Saturday that its founder Jack Ma no longer controls the Chinese fintech giant after a series of shareholding adjustments that saw him give up most of his voting rights.

Ma previously possessed more than 50% of voting rights at Ant but the changes means that his share falls to 6.2%, according to Reuters calculations.