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FOUND: 4 | Mind Blowing Facts

A series of bad news stories—including an abandoned cloud spin-off plan—wipe billions from Alibaba's market cap

Alibaba blamed U.S. chip controls for its decision to abandon plans to spin-off its cloud computing unit as an independent company.

Fortune

China’s billionaires looking to move their cash, and themselves, out

Crackdowns on financiers, roiling political climate and slowing economy under Xi Jinping has many seeking exit plans

The Guardian - UK

Pinduoduo founder Colin Huang surges past Alibaba's Jack Ma to become China's third-richest person

Huang rose seven places on Hurun's annual list of China's wealthiest people, thanks to surging business at both Pinduoduo and Temu.

Fortune

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Jack Ma-owned London fintech WorldFirst shifts Asia business away from UK oversight in major shake-up

The firm said it took the decision based on ‘the strategic alignment of the legal entities’

Evening Standard

Former CEO of China's Alibaba quits cloud business in surprise move during its leadership reshuffle

The former CEO of Alibaba has resigned as head of its cloud computing business in a surprise move as the Chinese e-commerce empire wraps up a leadership reshuffle

The Independent UK

Founder of Jack Ma-backed fintech WorldFirst hits back over risk management questions after board exodus

Founder Jonathan Quin is understood to have questioned changes to risk and oversight functions at meetings of the firm’s risk committee.

Evening Standard

The growing list of Chinese elites who disappear but later resurface subdued

Foreign minister Qin Gang’s mysterious absence and replacement follows a pattern of falls from grace for rising stars

The Guardian - UK

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Jack Ma, once Asia’s richest person, has seen more than half of his $61 billion fortune wiped out in the past 3 years

Beijing cracked down on the companies Ma founded after he publicly criticized Chinese regulators.

Fortune

Jack Ma’s wealth drops $4.1 billion as Ant’s valuation slashed

BEIJING: Jack Ma’s fortune is dwindling further as a planned repurchase of shares reveals a much reduced valuation for Ant Group Co., the payments business he co-founded.

The Times of India

Ant Group Plans $78.5 Billion Buyback Amid Regulatory Obstacles

Billionaire-backed firm aims to retain talent and offer exit to affected investors.

Zenger

Ant to buy back shares at 70% lower valuation than at IPO

Jack Ma-backed Ant Group Co is proposing to buy back as much as 7.6% of shares in an effort to retain talent and offer an exit for investors ensnared by a years-long regulatory crackdown at the company.

The Times of India

Chinese tech firms handed massive fines

BEIJING: Chinese regulators said on Friday they had fined the fintech giant Ant Group almost $1 billion for “illegal acts” and handed an affiliate of rival Tencent a $415-million penalty, adding that a long-running crackdown on technology companies was drawing to a close.

Bangkok Post

Board exodus at London fintech WorldFirst

London fintech WorldFirst has seen a mass board exodus as billionaire Jack Ma tightens his grip on the management of the payments company, the Standard has learnt.

Evening Standard

Bill Gates’ venture firm, with backing from Jeff Bezos and Jack Ma, just minted a $1 billion A.I. unicorn that uses machine learning for mining the rare earth metals crucial for EVs

Mary Meeker and Andreessen Horowitz were also involved in the $250 million funding round.

Fortune

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The Independent UK

Chinese e-commerce giant Alibaba announces new CEO and chairman in major management reshuffle

China’s Alibaba Group has announced a major management reshuffle as the e-commerce giant restructures into six different business divisions to adapt to fast-changing technologies

Fortune

Chinese billionaire Jack Ma teaches first class at University of Tokyo as top exec at his tech empire insists he’s ‘alive’ and ‘happy’

The Alibaba cofounder has largely disappeared from public view since criticizing Chinese regulators in 2020.

The Guardian - UK

‘We in the west were blinded’: China crackdown on business has Maoist roots

‘Anti-spying’ raids on consulting firms and attacks on tech companies are being driven by party ideology, says academic Chris Marquis

Bangkok Post

Jack Ma returns to public life with professorships

Jack Ma, the face of Chinese entrepreneurship and the founder of Alibaba Group Holding, has assumed professorships in at least four schools outside mainland China, as he keeps an arm's length from the business empire he created.

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The Independent UK

Alibaba's Jack Ma turns up in Japan as college professor

Alibaba Group founder Jack Ma will be a visiting professor at Tokyo College, a research institute run by the prestigious University of Tokyo

The Times of India

Jack Ma joins University of Tokyo as visiting professor

BEIJING: Alibaba Group Holding Ltd co-founder Jack Ma is joining the University of Tokyo’s Tokyo College as a visiting professor, according to a profile page on the university’s website.

Reuters

Alibaba founder Jack Ma takes up Tokyo University visiting professorship

Alibaba Group founder Jack Ma has been invited to be a visiting professor at Tokyo College, a new organization run by the University of Tokyo, the university said on Monday.

Caixin Global

Jack Ma Appointed Honorary Professor at the University of Hong Kong

The Alibaba co-founder will focus on conducting research in finance, agriculture and entrepreneurial innovations with the HKU faculty, with no plans for public lectures or speeches, reports say

Radio France Internationale

Five crucial questions for France's Macron as he embarks on Chinese trip

As French President Emmanuel Macron starts his four-day visit to China, he will have to keep in mind Beijing's attitude on several crucial questions. These include democracy in Hong Kong and the status of the independent nationalist island of Taiwan.

Al Jazeera

China’s tech old guard make way for young blood in AI, crypto era

Beijing is seeking to assure tech sector that crackdown has passed amid questions about direction of regulatory policy.

Bangkok Post

Foreign cash streaming back into China

SHANGHAI: Foreign investors are steadily marching into China in the wake of Alibaba’s plans to restructure, with money managers reckoning it is the latest sign the national leadership is turning friendlier to business as economic growth gains traction.

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