Jack Ma’s Wealth Drops $3 Billion After Ant Group IPO Freeze
- Alibaba shares plunge both in New York and Hong Kong
- Ant would have created at least 18 billionaires with listing
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Jack Ma was poised to become Asia’s richest person with Ant Group Co.’s initial public offering. Instead, his net worth tumbled almost $3 billion and both retail and institutional investors who were betting on a big first-day pop are in limbo.