Monday, March 17, 2025 | 08:56 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Jack Ma's fortune jumps $2 billion after record antitrust fine on Alibaba

The $2.8 billion fine is less severe than some investors feared and is based on only 4% of the company's 2019 domestic sales, far less than the maximum 10% allowed under Chinese law

Jack Ma
Premium

Jack Ma is now China’s third-richest person after Zhong Shanshan of bottled-water company Nongfu Spring Co. and Tencent Holdings Ltd.’s Pony Ma.

Cecile Vannucci | Bloomberg
China just slapped a record antitrust fine on Alibaba Group Holding Ltd. The company thanked the government and investors breathed a sigh of relief.

Alibaba’s American depositary receipts climbed 9.3% on Monday in New York, their biggest jump in almost four years. For Jack Ma, the founder of the e-commerce giant, it meant his fortune increased by $2.3 billion to $52.1 billion, according to the Bloomberg Billionaires Index.

The $2.8 billion fine is less severe than some investors feared and is based on only 4% of the company’s 2019 domestic sales, far less than the maximum 10% allowed under Chinese

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in