The state of the Chinese billionaire and the founder of Alibaba Jack Ma grew by 2.3 billion dollars after the Chinese authorities fined the company for a record amount. According to Bloomberg, in the billionaires index – Bloomberg Billionaires Index – the entrepreneur who has become even richer after the fine now takes the 25th line with a state of $ 52.1 billion.
In the growth, alibaba shares went. TO Tuesday, April 13, they rose by 9.27 percent.
In April, the State Administration of the PRC Market Control was fined Alibaba for a record in the history of the country’s history – 18.22 billion yuan ($ 2.78 billion) for violation of antitrust laws. The investigation confirmed that Alibaba conducted a policy forcing the consumer to use its services “without the right to choose”.
The conflict of MA with the Chinese authorities began last year after the entrepreneur criticized the government policy in the question of digital technologies. After that, the IPO was not allowed to leave the “daughter” Alibaba – Ant Group. The cause of hostility could be an investigation into the possible beneficiaries of the transaction. Among them were people associated with political clans who are unworthy of the current government. In February, Ant Group and Chinese regulators agreed on the restructuring plan, which will turn the company to financial holding.
According to Bloomberg, the new victim of the PRC authorities can be a technological giant Tencent: the company also fell under a penalty for antitrust disorders. Claims caused the purchase of an educational online service YUANFUDAO in 2018. The penalty was 77 thousand dollars, but in mid-March it led to the collapse of shares by 4.5 percent, and capitalization decreased to 810 billion dollars. Conglomerate is likely to make it allocate in a separate business financial, insurance and fintech assets, which immediately fall under tightened regulation.