The billionaire has seldom been seen in public since criticising China's financial sector in 2020.
The billionaire founder of Ant Group, Jack Ma, is to give up control of the Chinese fintech giant after a regulatory crackdown.The formerly flamboyant Mr Ma has seldom been seen in public since criticising China's financial sector in 2020.Ant Group runs Alipay, the main online payment system in China, which has eclipsed cash, cheques and credit cards.
The regulatory intervention came after Mr Ma had told a financial conference that traditional banks had a "pawn-shop mentality". After the collapse of the stock market flotation, which was set to make Mr Ma the richest person in China, he disappeared for three months, prompting speculation as to his whereabouts.Ant movesBut Ant said shareholders had agreed to no longer act together when using voting rights, and would only vote independently.However, Ant said shareholders' economic interests would not change.
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