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Jack Ma is no longer China's richest person after his confrontation with the state's financial regulators

1 month ago   |   By

Jack Ma
Shu Zhang/Reuters
Billionaire Jack Ma is no longer China's richest person after his empire came under regulatory scrutiny. He dropped to fourth place "after China's regulators reined in Ant Group and Alibaba on anti-trust issues," the Hurun Global Rich List said. Bottled-water maker Zhong Shanshan nabbed the number one spot for the first time with a wealth of $85 billion. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Business magnate Jack Ma has lost the title of China's richest person, according to a list published Tuesday, as his business empire came...
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