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Jack Ma’s Finance Business May Be Worth More Than Goldman Sachs

  • CLSA analyst Leung estimates business value is $75 billion
  • Alibaba affiliate said to consider IPO in Hong Kong next year
Bloomberg business news

Ant Financial May Be Bigger Than Goldman Sachs

Alipay got its start in 2004 as a way for the customers of Alibaba Group Holding Ltd. to more easily buy goods online. Now the business’s parent company may be worth $75 billion, or more than Goldman Sachs Group Inc.

That’s the conclusion of Elinor Leung, the head of telecom and Internet research at CLSA in Hong Kong. The number may not even sound that outlandish: Ant Financial, Alipay’s parent company, was valued at about $60 billion in June when it raised $4.5 billion, people familiar with the matter said at the time.