RARE PHOTOS: 4 - The Real Truth

JD.com's billionaire founder tells employees not to 'lie flat' as Temu-owner PDD catches up to him and Alibaba founder Jack Ma

"We need to change, or there’s no way out for our company," JDD founder Richard Liu wrote in a post on the company's internal forum.

Fortune · Dec 12, 2023

China’s former entrepreneurial golden child, Jack Ma, appears to be back with a food venture

Alibaba founder Jack Ma largely disappeared from public life following a crackdown by the Chinese government—now it seems he's back.

Fortune · Nov 27, 2023

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 · Nov 17, 2023

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 · Sep 8, 2023

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 · Jul 25, 2023

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 · Jul 12, 2023

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 · Jul 12, 2023

Ant Group Plans $78.5 Billion Buyback Amid Regulatory Obstacles

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

Zenger · Jul 8, 2023

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 · Jul 8, 2023

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 · Jul 7, 2023