Jack Ma’s Wealth Drops $4.1 Billion as Ant Group’s Valuation Slashed

(Bloomberg) — Jack Ma’s fortune is dwindling further as a planned repurchase of shares reveals a much reduced valuation for Ant Group Co. Ltd., the payments business he co-founded.

The 58-year-old tycoon has a 9.9% stake that’s now estimated to be worth $4.1 billion less than almost a year ago, based on the share buyback, average analyst estimates and Fidelity Investments’ valuation, according to the Bloomberg Billionaires Index.