Jack Ma Has Lost $11 Billion In 2 Months On China Scrutiny

Wednesday, 30 December 2020Newsdesk

Jack Ma's net worth has tumbled by almost $11 billion since the end of October as China stepped up scrutiny of his empire and the country's tech behemoths.

New Delhi, 30 December 2020

As per news report of NDTV, the 56-year-old former English teacher -- often associated with the meteoric rise of China's internet sector -- reached a peak of $61.7 billion this year and was poised to regain the title of Asia's wealthiest person. Now, with a fortune of $50.9 billion, he's since slipped to 25th on the Bloomberg Billionaires Index, a list of the world's 500 richest people. While the co-founder of Alibaba Group Holding Ltd. has been at the center of the clampdown, he isn't the only one feeling the squeeze.

Source -NDTV