Alibana changed the shopping habits of hundreds of millions, catapulting Mr Ma to international stardom. Read more at straitstimes.com.
He will hold just 6.2 per cent of the voting rights as the company moves to ensure “no shareholder, alone or jointly with other parties, will have control over Ant Group”, the firm said in a statement on Saturday.
A Communist Party member, Mr Ma’s rags-to-riches backstory came to embody a self-confident generation of Chinese entrepreneurs ready to shake up the world. He toyed with several Internet-related projects, before convincing a group of friends to give him US$60,000 to start a new business in 1999 in China, then still emerging as an economic giant.
The company changed the shopping habits of hundreds of millions of Chinese people and catapulted Mr Ma to international stardom.
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