According to a list published today, Tuesday, the conditions of other wealthy people have greatly prospered at a time when the “Alibaba” empire is under scrutiny.
According to the “Hurun Global Rich” list of the richest people in China in 2020 and 2019, “Jack Ma” fell to fourth place after he was first.
The list attributed this decline to what Jack Ma was subjected to when Chinese regulators restrained his companies over antitrust issues.
Jack Ma faced significant harassment after a speech on October 24 in which he criticized China’s regulatory system.
This speech by “Jack Ma” halted his $ 37 billion initial public offering (IPO) Ant Group.
China’s market regulator opened a formal antitrust investigation into Alibaba in December.