China orders Alibaba founder Jack Ma to break up fintech empire

The relevant part is this – “The latest salvo in Beijing’s battle against Ma – who had been feted as China’s greatest modern-day entrepreneur until he started speaking out against strict regulations – wiped 8% off the value of Alibaba’s share price”. He made the mistake of trying to take on the party. This is him losing.

https://www.theguardian.com/business/2020/dec/28/china-orders-alibaba-founder-jack-ma-break-up-fintech-ant

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