Alibaba’s Co-Founder Jack Ma Sells Shares for $ 9.6 Billion

Alibaba’s co-founder Jack Ma has reduced its holding in the e-commerce giant to 4.8 percent from the previous 6.4 percent.

Alibaba’s co-founder Jack Ma has reduced its shareholding in the Chinese e-commerce miracle over the past year from 6.4 to 4.8 percent, equivalent to a sales value of $ 9.6 billion at the current share price, according to information released by Alibaba on Friday. It reports Reuters.

The sales come after Jack Ma resigned as Alibaba’s chairman in September to focus on philanthropy.

Alibaba did not disclose the average selling price. The share price has risen around 40 percent since Ma reported its 6.4 percent stake.

 

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Alibaba's co-founder Jack Ma has reduced its holding in the e-commerce giant to 4.8 percent from the previous 6.4 percent.

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