Jack Ma’s Wealth Drops $4.1 Billion as Ant’s Valuation Slashed
- Financial technology firm has overhauled its business model
- Fortune of the Alibaba co-founder cut more than half from peak
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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.