JACK MA WEALTH
Did Taylor Swift become billionaire by singing and songwriting only? Know inside story of her wealth
Taylor Swift is different from other billionaires in the sense that she has not accumulated this wealth from profitable businesses like beauty brands, fashion lines, alcohol investments, etc. Swift is the first musician to reach the milestone solely from songwriting and performing.
Paytm looking to hire 50,000 more salespeople to hit profit sooner
Billionaire founder-CEO Vijay Shekhar Sharma is overhauling its suite of money management products to better tap growing wealth among younger users, who’re warmer to the idea of investing online.
Jack Ma’s wealth dips $4.1 billion, dragged by Ant’s reduced valuation
Once China’s richest tech tycoon, Jack Ma may now be worth $30 billion, which is less than half of his peak wealth before the failure of the biggest IPO in history in 2020. Jack Ma’s 9.9 per cent stake in Ant Group Co is now estimated to be worth $4.1 billion less than almost a year ago, according to the latest update on Bloomberg Billionaires Index.
Jack Ma’s clash with Beijing costs Ant, Alibaba $850 billion
Chinese authorities said on Friday they would wrap up a probe into Ant with the financial technology company paying a fine of almost $1 billion.
Instant view: Alibaba to split into six units
"When you get to a certain size and have multiple different disciplines inside your business model, it's hard to have ascribed the value that would be the sum of the parts." Alibaba planned to split into six different units to ascribe an appropriate value to each of its different units, likely makes sense if they're able to pull this off."
Alibaba founder Jack Ma returns to China as govt tries to allay private sector fears
Alibaba founder Jack Ma has returned to China after more than a year abroad. The visit signals a softening of the government's tone towards the private sector as it seeks to boost the country's battered economy. China's new premier, Li Qiang, is said to have made efforts to persuade Ma to return, recognising the move could help boost business confidence among entrepreneurs. Alibaba shares rose by more than 4% following Ma's return. Asia analyst Fraser Howie said his return signals a relaxation, but added: "none of the laws and institutions set up to control the private sector have changed".
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Gautam Adani is first Asian to become world’s third-richest person
Adani, 60, has spent the past few years expanding his coal-to-ports conglomerate, venturing into everything from data centers to cement, media and alumina. The group now owns India’s largest private-sector port and airport operator, city-gas distributor and coal miner.
Wealth emigration is bad news for India's $5 trillion dream
Overall, 1,63,370 Indians gave up their citizenship in 2021. While this has been attributed to a backlog built up during the Covid-led slowdown, several of those seeking another abode include those who have built vast fortunes in India. On the face of it, India's top earners should have little reason to forgo their comfortable existence here.
China's central bank accepts Ant's application for financial holding company
The People's Bank of China's (PBOC) expected approval of the plan is the latest sign that Ant, a tech giant with financial businesses stretching from payments to wealth management, is poised to emerge from a regulatory crackdown.
China’s tech moguls see $80 billion of wealth evaporate in 2021
The country’s 10 richest tech tycoons lost $80 billion in combined net worth in 2021, according to the Bloomberg Billionaires Index, amid widescale crackdowns by Chinese regulators.
Why did Paytm bomb, when Nykaa didn’t? The proof is in the pie(s)
India’s largest IPO thus far has tanked despite the best efforts of the management, its heavyweight bankers and even some of the blue blooded institutional investors Blackrock, the world’s largest asset manager, CPPIB or the sovereign wealth funds of Abu Dhabi and Singapore who lent their support as anchor investors.
A chastened Alibaba tones down its Singles Day retail bonanza
The shopping holiday, which Alibaba invented over a decade ago, is evolving for a chastened new era for China’s internet industry, one that emphasizes fairness and responsibility and publicly spurns growth-at-all-costs excess. Past Singles Days were opportunities for Alibaba to showcase its latest innovations in getting people to spend more heedlessly. The big themes this year: green logistics, eco-friendly products and consuming “with care.”
Water tycoon is China's richest as wealth crackdown batters Jack Ma
Bottled-water tycoon Zhong Shanshan has become China's wealthiest person, according to an annual ranking released Wednesday. He is worth $60.5 billion, according to the Hurun Rich List, up seven percent.
Billionaire Jack Ma touring Dutch research institutes to explore agriculture technology
The Alibaba founder has largely been out of public view since he publicly criticised China's regulatory system.
Billionaire Alibaba founder Jack Ma reappears in Hong Kong
Jack Ma has been keeping a low profile since delivering a speech in October last year in Shanghai criticising China's financial regulators. That triggered a chain of events that resulted in the shelving of his Ant Group's mega IPO.
Billionaire Alibaba founder Jack Ma reappears in Hong Kong: Sources
The Chinese billionaire has been keeping a low profile since delivering a speech in October last year in Shanghai criticising China's financial regulators. That triggered a chain of events that resulted in the shelving of his Ant Group's mega IPO.
How China Evergrande's rags-to-riches founder is trying to save his empire
It’s a stunning reversal for a man who fought his way from poverty in rural China to build one of the world’s largest property companies.
Could China’s crackdown be a second cultural revolution?
The message could hardly be clearer: the Chinese Party-state wants to mold young minds with correct ideology, not distract them with online fantasies.
Tencent boss loses $14 billion in rout, more than Jack Ma
In a twist that has upended conventional wisdom on the political pecking order of China’s business elite, Tencent Holdings Ltd.’s mild-mannered boss, Pony Ma, has lost more paper wealth over the past nine months than Jack Ma, the combative co-founder of Alibaba Group Holding Ltd. and Ant Group Co.
The world’s billionaire factory shudders as China cracks down
Beijing’s motivations for the crackdown are varied. These include concerns about anti-competitive behaviour in the tech industry, risks to financial stability from lightly regulated lending platforms and the rapid proliferation of sensitive personal information in the hands of large corporations.
Ant valuation seen falling to $29 billion in worst-case scenario
Ant Group's valuation could drop to a range of $29 billion to $115 billion, from $320 billion previously
China's Ant to become financial holding firm under enforced revamp
The overhaul comes two days after e-commerce giant Alibaba Group Holding Ltd, of which Ant is an affiliate, was hit with a $2.75 billion antitrust penalty as China tightens controls on the "platform economy".
Record penalty for Alibaba marks tumultuous stretch for its founder Jack Ma
The reversal of fortune for the 56-year-old Ma, who has all-but-disappeared from public view since an October speech blasting China's regulatory system, has been striking for an entrepreneur whose transformation of commerce in China - and his relentless optimism - commanded cult-like reverence.
Will Jack Ma's disappearance break Vijay Shekhar Sharma's back?
With other strategic backers like Softbank fussing over profitability after Vision Fund’s missteps it’s time for Sharma to figure out what Paytm – India’s most valuable fintech company commanding billion $16 billion valuation and counting – wants to be entering its adolescent years.
Xi's push against Jack Ma sparks new threat for China tech
US authorities are now debating whether to ban investments in Alibaba and Tencent.
Jack Ma: Tycoon who soared on China's tech dreams grounded by regulators
Ma, the most recognisable face in Asian business with a fortune estimated at around $58 billion, has already faced the ignominy of having the world's biggest-ever IPO spiked by Chinese regulators days before its launch.
Inside the chaotic unraveling of Jack Ma’s $35 billion IPO
The subsequent unraveling of the $35 billion share sale has thrust Ma’s fintech giant into turmoil, offering a stark reminder that even China’s most celebrated businessman isn’t immune to the whims of a Communist Party that has steadily tightened its grip on the world’s second-largest economy under Xi Jinping’s leadership.
Jack Ma: Ebullient billionaire and totem of China's rise
Jack Ma, the ebullient and unconventional billionaire founder of tech giant Alibaba, now finds himself battling the ignominy of having the world's biggest-ever IPO halted days before its launch by Chinese regulators.
Jack Ma’s wealth drops $3 billion after Ant Group IPO freeze
Ma, a 56-year-old former English teacher who co-founded Alibaba with $60,000 and turned it into China’s largest e-commerce company, would have leaped up the wealth rankings with Ant’s planned $34.5 billion share sale.
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