It seems that charity costs Jack Ma a lot of money.
If we talk about a company's exceptional performance, we talk about Alibaba. The Chinese e-commerce giant grew by 40% in just one year. The stock’s ascension was helped by beating expectations, although the Chinese economy started to slow down due to the pandemic.
The company’s annual filing released on Friday showed that its co-founder Jack Ma has now only a 4.8% stake in the company, from last year’s initial 6.2%. Given the current stock price, specialists believe that Ma cashed out around $8.2 billion.
But Jack Ma is not the first to cash out. The company’s executive vice-chairman Joseph Tsai reduced his stake to 1.6% from 2.2%. As of Friday, the shares that he sold worth $3.3 billion.
A filing from Jack Ma to the Securities and Exchange Commission (SEC) from April 2019 revealed his plans to sell 21 million shares in one year to sustain charity and philanthropy works.
The market didn’t budge over the news, and the stock is currently trading higher by 0.34%.
Read all about the latest financial events on CAPEX.com!
Sources: reuters.com, finance.yahoo.com
لا يجب على المستخدمين/القراء الاعتماد على المعلومات المقدمة هنا وحدها ويجب على المتلقي إجراء تحليلاته/أبحاثه الخاصة عن طريق قراءة البحث الأساسي الفعلي.تتسم المعلومات الواردة هنا بالعمومية ولا تأخذ في الاعتبار الظروف الشخصية لكل فرد، أو خبراته الاستثمارية أو وضعه المالي الحالي.
وبناء عليه، لن تتحمل Key Way Investments Ltd المسئولية عن أي خسائر يتكبدها المتداولين بسبب استخدام محتوى المعلومات المقدمة هنا. لا يعتبر الأداء السابق مؤشراً موثوقاً على النتائج المستقبلية.
