Jack Ma: The tycoon who soared on China's tech dreams but grounded by regulators

Jack Ma has seen his fortune fall by around half to an estimated US$25 billion (S$33 billion). - AFP

BEIJING, Jan 7, 2023 (AFP): Jack Ma, the unconventional billionaire founder of tech giant Alibaba and the totem of China's entrepreneurial brilliance, has stepped out of the limelight since a Communist Party crackdown that chopped back his empire.

The most recognisable face in Asian business, Ma has seen his fortune fall by around half to an estimated US$25 billion after authorities pulled what would then have been the world's biggest-ever IPO in 2020.