By John Meyer, financial consultant. Eurasia Business News, January 8, 2023

Chinese billionaire Jack Ma gives up control rights to Ant Group, according to a statement from the company.

The press release said the Chinese fintech company would grant a voice to ten individuals, including the founder, management and staff, effectively stripping Ma of control of the Ant Group. The shareholding structure will result in : “no shareholder, alone or with other parties” will have “control over Ant Group.”

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