Jakarta –
Since criticizing the financial system the Chinese government towards the end of 2020, life Jack Ma not the same anymore. His wealth plummeted, he never made public appearances, and he was often outside of China. The business has been messed around a lot.
As quoted detikINET from AFP, the Chinese government seemed to be taking revenge on Jack Ma for his scathing criticism. In a speech in September 2020, the tycoon said banks in China operated with a “mortgage” mentality and accused financial watchdogs of hindering companies’ growth.
An enraged Beijing sprang into action, purportedly on direct orders from President Xi Jinping. Ant Group did not sell shares because it was deemed not to comply with the provisions. Shortly thereafter, Alibaba was snared with a record USD 2.75 billion in fines for alleged unfair business practices.
LatestJack Ma no longer have control over the Ant Group as before. It was as if he was being forced to relinquish his control over the fintech company from China. The change was announced after shareholders agreed to reshape the voting structure at the company.
After this change, Ant Group said there would be no single person with full control over the company. Ma currently holds 50% control of the Ant Group, but after the restructuring will have the remaining 6.2%.
Jack Ma controls the Ant Group through the shares he holds and often acts with other shareholders. But Ant Group said shareholders agreed to no longer act together when exercising their voting rights, and would only vote independently.
Jack Ma himself seems to not really care about his business affairs or indeed forced. Later, he actively studied the agricultural business to help farmers in rural China. Lastly, he was seen in Thailand.
Watch Video “Ant Group Announces Jack Ma No Longer in Control“
[Gambas:Video 20detik]
(fyk/rns)
