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Monday, January 30, 2023

Billionaire Jack Ma chills in Bangkok

Alibaba founder gives up control of Ant Group in further sign of reduced business involvement

Jack Ma joins Supinya “Jay Fai” Junsuta at her famous Michelin-starred crab omelette restaurant in Phra Nakhon district of Bangkok. (Photo: jayfaibangkok Instagram)

Billionaire Alibaba founder Jack Ma has been chilling in Bangkok this week amid reports that he is taking more steps to scale back his personal involvement with his online empire.

Mr Ma is giving up controlling rights of Ant Group, the Alibaba fintech subsidiary, according to an announcement on Saturday. The company said it would give 10 individuals, including the founder, management and staff, voting rights independently, effectively…

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