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Chinese Tycoon Jack Ma will cede control of Ant Group

By John Meyer, financial consultant. Eurasia Business News, January 8, 2022

Chinese billionaire Jack Ma gives up control rights to Ant Group, according to a statement from the company.

The press release said the Chinese fintech company would grant a voice to ten individuals, including the founder, management and staff, effectively stripping Ma of control of the Ant Group. The shareholding structure will result in : “no shareholder, alone or with other parties” will have “control over Ant Group.”

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