Jack Ma Has Lost $11 Billion in Two Months on China Scrutiny
- Increased scrutiny on Alibaba has hit other tech giants
- China’s internet moguls are still $187 billion richer in 2020
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Jack Ma’s net worth has tumbled by almost $11 billion since the end of October as China stepped up scrutiny of his empire and the country’s tech behemoths.
The 56-year-old former English teacher -- often associated with the meteoric rise of China’s internet sector -- reached a peak of $61.7 billion this year and was poised to regain the title of Asia’s wealthiest person. Now, with a fortune of $50.9 billion, he’s since slipped to 25th on the Bloomberg Billionaires Index, a list of the world’s 500 richest people.