Jack Ma

In August, the global Labubu craze made Chinese toy mogul Wang Ning richer than the country’s renowned Alibaba cofounder Jack Ma. But in recent months, the 38-year-old billionaire has seen $11.3 billion of his once $27.5 billion fortune slip away amid worries that the rabbit-ish doll with pointed ears and a mischievous smile may prove just to be a fad.

Wang Ning, founder of toy maker Pop Mart International Group, has become richer than Alibaba cofounder Jack Ma thanks to the global mania for the company’s Labubu dolls.

Ma, one of China’s wealthiest people, said Alibaba had made “countless mistakes” in the past and would probably make more in the future, praising the company’s leaders for their bravery in overhauling the business.

A growing number of Chinese tycoons have already bought properties in the wealth management hub.

He was responding to employees’ discussions on how PDD Holdings may soon overtake Alibaba in terms of market capitalization.

Alibaba Group stunned investors when it announced that it would suspend the listing plan of its cloud computing unit, while also revealing that cofounder Jack Ma intends to sell some of his shares.

The Alibaba cofounder’s wealth rose to $25.1 billion following his return to China.

The penalties conclude a years-long probe by the People’s Bank of China into Ant Group, founded by billionaire Jack Ma.

Ma, formerly China’s richest person, has largely disappeared from public life since criticizing Beijing’s regulators in 2020.

Charismatic figure has professorships in Hong Kong, Tokyo, Tel Aviv and Kigali, newspaper says

Jack Ma has finally returned to mainland China after spending more than a year traveling abroad, just as authorities have begun to show signs of easing their crackdown on the internet sector and issued supportive messages to private entrepreneurs.

Jack Ma's wealth gain for the year all but evaporated, after Alibaba’s stock was dragged lower on renewed worries over the company’s growth prospects.

Ma has almost completely disappeared from public view after Chinese regulators shut down his fintech company Ant Group’s IPO in late 2020.

Jack Ma, the cofounder of Chinese e-commerce giant Alibaba, is said be in Hong Kong to meet friends and finance executives, the Hong Kong Economic Times (HKET) reported on Friday, citing anonymous sources.

The Alibaba Group cofounder has been laying low for the last two years amid the Chinese government’s crackdown on industry.

Jack Ma has become a string-puppet in Beijing's psychological campaign against the tech sector. The pattern of "Jack-sightings" is random, absurd, uncorroborated, unconvincing, shamelessly so. It is in fact designed to be that way – to underscore the very arbitrariness of Beijing's arbitrary power.