Alibaba founder Jack Ma is no longer China richest person
The founder of Alibaba and Ant Group, Jack Ma, lost the title of richest person in China after occupying the first position in 2019 and 2020. According to a list published last Tuesday, March 2, and shared by Reuters, Ma now occupies the fourth place.
Jack Ma’s ‘fall’ started when the founder of Alibaba decided to openly criticize China’s regulatory system in late October 2020, disappearing from the public for a period of about three months. He reappeared in January, in a video with less than a minute. Meanwhile, Ma’s companies have become the target of Chinese investigators and regulators, which has ended up limiting their performance in the market.
The list of the richest personalities in China is topped by Zhong Shanshan of Nongfu Spring, followed by Pony Ma of Tencent Holding and Collin Huang of Pinduoduo.