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It's not Ant it is Elephant IPO!


Jack Ma had announced his retirement as Executive Chairman from Alibaba on September 2018. Many were surprised on his decision and feel too early for Jack Ma to get out from corporate business. 

Now, he is back again and proved his expertise in business. Jack Ma, a co-founder of Alibaba, took control of Ant group with 50.52% of shares.  Ant group operates China’s massive e-payment system Alipay. The mobile payment app with over 1 billion users is an affiliate of Alibaba. Ant group has a broad financial ecosystem including China’s largest online insurance service.


It takes just 3 minutes from the app with zero human intervention is the beauty of Alipay services. It serves 80 million small businesses, with plans to more than double that figure by 2025. Ant group is fear of being blacklisted by Washington after escalating the tensions between China and US. Jack Ma is making the history again by raising $34 billion in a record breaking IPO. He is the 11th wealthiest business man after he sells shares of Ant in Shangai and Hong Kong stock markets. Ant’s big listing is likely to boost the fortunes of early investors and employees.


Ma's Ant shares are reportedly worth about $17bn, taking his net worth to close to $80bn and confirming him as China's richest man. With Ant Group and Alipay, Jack Ma has been able to transform China's internet industry and millions of Chinese consumers. The group has made its impact to every corner in China, such is the reach of this group services. Jack Ma becomes richer than Walmart with mega Ant IPO.  He was declined by Harvard 10 times and rejected one and only of 24 applicants when he applied for KFC. There is no exaggeration in saying rise of Jack Ma is nothing but rise of China.

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