Alibaba Group Holding Ltd. (NYSE: Baba) Co-founder Jack Mani’s assets plummeted by nearly billion 1 billion as shares of the Chinese company fell more than 8% in New York as Ant Ant Group’s two listings in Shanghai and Hong Kong were suspended, Bloomberg Billionaire said. According to the index.
what happened: Ma, a former English teacher, is still valued at 1 1.56 billion – according to Bloomberg, her year-to-date has added 11 11.5 billion to her fortune. The Chinese billionaire owns 2.6% of Alibaba and one-third of Ant, valued at જાહેર 4.4 billion in initial public offerings.
Why it’s important: The IPO, which is expected to raise Rs 34 billion, was suspended by the Shanghai Stock Exchange on Tuesday. The offer was subscribed to more than 870 times the share price.
The ant list also includes at least 18 billionaires, including start-up investors and employees.
Price action: Shares of Alibaba closed at 5 285.57, down nearly 8.1% on Tuesday, and fell 0.16% in the following session.
See also: Jack Mae called the ant group’s IPO ‘the biggest in human history’‘
Photo by the World Economic Forum on Flickr
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