In response to Bloomberg, up to now it may be seen that Jack Ma has paid dearly for his public criticism of China’s state-owned banks in October final 12 months. In consequence, a number of weeks later, Ant Group’s $34 billion IPO was suspended. By April, Jack Ma’s e-commerce large Alibaba Group was fined $2.eight billion following a authorities antitrust investigation.
At all times cheerful and charismatic, Ma usually attracts the limelight and has in depth relationships with many well-known pals within the leisure business. 4 years in the past, on Alibaba’s 18th birthday, Jack Ma dressed up as Michael Jackson and danced to “Billie Jean”. Final September, he livestreamed a duet with pop star Faye Wong. On the enterprise entrance, his Alibaba Photos Group has invested closely, spending tens of millions of {dollars} in personal studios over time.
Alibaba inventory is lagging behind two different rivals within the subject of e-commerce.
Nevertheless, the affiliation with the leisure world now comes with a hefty price ticket. As China steps in to right “fan tradition” – what the federal government considers a poisonous obsession with celeb existence, some associates and pals in Jack Ma’s circle have additionally fallen into disrepair. troublesome scenario.
The newest celeb in hassle is Trieu Vy, a 45-year-old actress who rose to fame within the late 1990s for her function within the hit TV collection “Hoan Chau Cach Cach”. Final week, lots of the star’s foremost works have been taken down from common streaming websites like Tencent Video. In 2017, Trieu Vy was additionally banned from inventory buying and selling for five years due to his involvement within the unsuccessful acquisition of a little-known animation firm. Trieu Vy, Jack Ma, Alibaba and Ant have all develop into sizzling search phrases on social networks in latest days.
Along with her appearing profession, Trieu Vy can also be a rich businesswoman who has constructed her fortune by investments, together with an funding in Alibaba Photos in late 2014. In 2015, her husband, Huynh Huu Lengthy has partnered with Jack Ma in an fairness deal.
If Ant IPO is profitable, Trieu Vy’s household will develop into even richer. Trieu Vy’s mom is a shareholder in two personal fairness companies which have managed investments in Ant since early 2016, with a valuation of simply $60 billion, or 76.3% of Ant’s IPO providing value. In response to Tianyancha, a Chinese language enterprise database, the 2 corporations turned out to be managed by Yunfeng Capital, an funding fund based by Jack Ma and David Yu of Goal Media. Presently, Trieu Vy and her household can’t be contacted.
Another notable early traders are Qian Fenglei, an in depth good friend of Jack Ma. Like Zhao Wei’s mom, Qian is a shareholder in three of the 5 personal fairness companies affiliated with Yunfeng and invested in Ant early.
Qian has a really intimate relationship with Jack Ma. In 2015, he famously paid HK$42.2 million ($5.42 million) for Jack Ma’s debut portray with a well-known Chinese language artist. Qian, whose surname means “cash” in Chinese language, is nicknamed Qian Duoduo, or “numerous cash”, for his generosity in charity.
The Wall Avenue Journal reported in February that one purpose Ant’s IPO was suspended final 12 months was as a result of the federal government was more and more sad about its complicated possession construction – and the folks profiting from it. probably the most cash from the IPO. Contemplate Ant’s prospectus and its lengthy listing of traders, lots of that are obscure personal fairness companies. That makes many individuals doubt that transactions are between people and households.
