Jack Ma’s clash with Beijing costs $850bn

China to end probe of Ant with fine of almost $1bn, while Alibaba’s market value is off by about $620bn from peak

09 July 2023 - 18:52 By Lulu Yilun Chen and Jane Zhang

As Jack Ma’s clash with the Chinese government draws to a close, after almost three years, it’s clear how costly the conflict has proven for his companies, Ant Group and Alibaba Group...

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