Jack Ma’s fortune increases by more than $ 2.3 billion after record fine imposed on Alibaba

Published:

13 abr 2021 04:56 GMT

According to data from the Bloomberg agency, the Chinese billionaire’s wealth reaches a total of 52.1 billion dollars.

Amid fiscal ‘stumbles’, the fortune of Chinese billionaire Jack Ma, owner of Alibaba, increased by more than $ 2.3 billion, to reach a total of $ 52.1 billion, informs the Bloomberg agency. Paradoxically, the increase comes after the recent decision of the State Administration of Market Regulation of China, which imposed on the e-commerce consortium a more record $ 2.78 billion for violating antitrust laws.

The penalty, the amount of which was calculated based on 4% of the company’s domestic sales in 2019, was nevertheless less severe than some investors expected, since Chinese law allows fines for up to 10% of transactions. of a company. The consortium accepted the punishment “humbly” and promised to carry it out.

“Alibaba would not have achieved its growth without strong regulation and service by the government. Critical supervision, tolerance and support from all of our agencies have been crucial to our development. Therefore, we are filled with gratitude and respect,” he quotes the agency a letter from the entity.

Ma has lost billions of dollars before since the conflict between Alibaba and the Chinese government broke out. Thus, within the framework of this confrontation, the stock market debut of Ant Group, the financial subsidiary of the consortium, was suspended at the last minute. could have been the largest IPO in history.

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