February 2, 2023

Money News PH

The Premier Blog Where Money Talks

Ant Group says its founder, Jack Ma, will relinquish control

One of China’s most influential tech titans, Ant Group, said Saturday that its founder Jack Ma plans to cede control of the company.

Ant Group is the fintech sister company of e-commerce giant Alibaba, one of China’s most valuable private companies and the bedrock of the business empire of Mr. Ma, the country’s most famous tycoon.

This is an evolving story.

Chang Che contributed reporting and Zixu Wang contributed research.