Billionaire Jack Ma is ceding control of Ant Group, capping a tumultuous period for the Chinese fintech giant
Mr. Ma will continue to hold voting rights in an entity that controls Ant, alongside nine Ant executives and employees will be also given voting rights. Together, they will jointly control the company, the statement said.
Ant has been revamping its various business lines, from consumer lending to insurance, and will eventually become a financial holding company subject to regulations in line with traditional financial firms. Regulators didn’t demand the change but have given their blessing, the Journal reported previously. Ant is required to map out its ownership structure when it applies to become a financial holding company.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chinese billionaire Jack Ma to relinquish control of Ant GroupAnt Group's founder Jack Ma will no longer control the Chinese fintech giant after the firm's shareholders agreed to implement a series of adjustments that will see him give up most of his voting rights, the group said on Saturday.
Read more »
Ant Group says Jack Ma to relinquish control of companyChina's Ant Group said on Saturday that its founder Jack Ma will no longer control the Chinese fintech giant after the firm's shareholders agreed to implement a series of shareholding adjustments that will see him give up most of his voting rights.
Read more »
Ant Group founder Jack Ma to give up control in key revampAnt Group's founder Jack Ma will give up control of the Chinese fintech giant in an overhaul that seeks to draw a line under a regulatory crackdown that was triggered soon after its mammoth stock market debut was scuppered two years ago.
Read more »
Update: MNH Entertainment’s New Boy Group 8TURN Dazzles In 1st “8TURNRISE” Group TeaserUpdate: MNH Entertainment’s New Boy Group 8TURN Dazzles In 1st “8TURNRISE” Group Teaser
Read more »
Rookie boy group 8TURN drops first group image for debut mini album '8TURNRISE' | allkpopMNH Entertainment's first official rookie boy group 8TURN has unveiled a sleek teaser image for their debut mini album, '8TURNRISE'.In th…
Read more »
Alien Ant Farm Singer Charged After Touching His Own Crotch With Fan's HandThe lead singer of Alien Ant Farm, who scored a hit with their cover of Michael Jackson's 'Smooth Criminal,' was charged with battery after touching his own crotch with a fan's hand at a recent show.
Read more »