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The Times of India
The Times of India
Business
Bloomberg

Jack Ma’s wealth drops $4.1 billion as Ant’s valuation slashed

Jack Ma Ant Ant Group Ant Group Co Beijing

BEIJING: Jack Ma’s fortune is dwindling further as a planned repurchase of shares reveals a much reduced valuation for Ant Group Co., the payments business he co-founded.

The 58-year-old tycoon has a 9.9% stake that’s now estimated to be worth $4.1 billion less than almost a year ago, based on the share buyback, average analyst estimates and Fidelity Investments’ valuation, according to the Bloomberg Billionaires Index.

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