comment: >
  
  Jack Ma is an "owner" of these assets as much as Russia's oligarchs are owners.  They are just piggy banks to be broken when needed.
context: Out of the goodness of his heart. Business schools will study this level of altruism in the future. >
  
  It's what Chairman Mao would've done. >
  
  And his wife of course. >
  
  Wait... Holup! The wife would also have given up the business, or he would have transferred HER to the government and people as their property also? Lol >
  
  You apparently aren’t familiar with Mao’s wife haha >
  
  Which wife? >
  
  Jiang Qing >
  
  That's the good one right? Save millions and advanced the nation? >
  
  sure. except all the death. >
  
  Yes … willingly >
  
  Happens to me all the time, these rash decisions. Last week I gave away my house, just like spur of the moment. /s >
  
  Why the sarcasm? The kidnappers returned your children after you gave up the house, right? They even gave back some parts before you agreed. So all is well that ends well. Just don't forget to freely give up your car out of the goodness of your heart this week, cause your wife is really looking forward to seeing you again...
  /s >
  
  This is the best tl;dr I could make, original reduced by 81%. (I'm a bot)
  
  
  Following a Communist party crackdown on the nation's digital sector that singled out the flamboyant billionaire, Jack Ma will relinquish control of Chinese fintech giant Ant Group, the company stated.
  No shareholder, alone or in partnership with other parties, will have influence over Ant Group, according to a statement released by his company on Saturday.
  The notice outlined the company's previous complicated organisational structure and stated that Ant was the "Control person" because Ma indirectly owned 53.46% of the shares.
  
  
  Extended Summary | FAQ | Feedback | Top keywords: Ant^#1 billion^#2 company^#3 yuan^#4 Alibaba^#5 >
  
  No Shareholder, alone or in partnership with other parties....
  So CCP hostile takeover >
  
  Not really, CCP just assuming direct control. 
  If you think Jack Ma was self made billionaire and not just face for CCP money I have a brand new bridge to sell to you. :P >
  
  Why would a CCP-endorsed billionaire bash the CCP? >
  
  Because the CCP moved the goal posts of what's considered criticism. >
  
  If I remember correctly, he tried to go public with his fintech company, but mislead the regulators that it was mainly a technology based company, not a financial company, which would mean more regulations. The national regulators put a stop to that and he opened his mouth to bitch about it, which got him on the shit list.
  A positive to all of this is that the 996 policy, something he advocated as good for the tech/software industry, was ruled as violating labor laws. >
  
  996 still happens mate. Chinese 'laws' are just suggestions. No good has come of this. >
  
  This is the best tl;dr I could make, original reduced by 81%. (I'm a bot)
  
  
  Following a Communist party crackdown on the nation's digital sector that singled out the flamboyant billionaire, Jack Ma will relinquish control of Chinese fintech giant Ant Group, the company stated.
  No shareholder, alone or in partnership with other parties, will have influence over Ant Group, according to a statement released by his company on Saturday.
  The notice outlined the company's previous complicated organisational structure and stated that Ant was the "Control person" because Ma indirectly owned 53.46% of the shares.
  
  
  Extended Summary | FAQ | Feedback | Top keywords: Ant^#1 billion^#2 company^#3 yuan^#4 Alibaba^#5 >
  
  Wonder if he's learned his lesson yet? >
  
  Who’s going to invest in China besides the Chinese gov’t. Good job Xi making China uninvestable >
  
  German companies. Or any other who wish to enter or keep a foot in the Chinese market. >
  
  Stupid is as stupid does.  China let's you in as long as you're useful with the illusion of access to a big market.  All the while stealing any IP they can and building up domestic competition. >
  
  Just like every carmaker in the world then. Because all of them are in china. >
  
  Yup, a bunch of lemmings falling for a mirage and going to regret it. >
  
  It boost their stock, they have great business press. >
  
  It's very difficult for me to believe that Jack Mas face is not photoshopped >
  
  Half of his face is forehead. It’s very cartoonish. >
  
  Is that what the CCP wants? >
  
  I'm pretty disappointed in the CCP, they call this a purge? >
  
  I wouldn’t feel too bad for him, the guy’s worth $23 billion. Even if he “donates” 95% of that, he’d still be set for a life of ultra-luxury with more money than he could possibly ever spend. >
  
  It's not about money. Imagine losing your lifes work. >
  
  Tell that to all his workers who toil every day doing the actual work >
  
  Yes. What Ma did was imaginary work . >
  
  Not imaginary but certainly not 23 billion times more valuable than all his low level workers (assuming many have near 0 net worth) >
  
  Haven't seen or heard about Jack Ma in a while. I thought the Chinese govt had imprisoned him. >
  
  He’s hiding out in Japan now. >
  
  He was in Thailand a few days ago. He still gets around. >
  
  Quick, let’s make China our currency reserve for the world! >
  
  It will be a challenge to outprint US dollar, but okay. >
  
  Green is our north star. One can safely and sadly chart a course based on these constants. Greed is smarter than power, in my experience. >
  
  Yeah fuck that. In America we have the freedom to say what we want to destabilize financial markets. Say what? SEC does what? No way… >
  
  What is this, a group for ants? >
  
  a business group providing digital financial services for individuals and companies >
  
  Just one of the most unusual faces I’ve ever seen. >
  
  Didn't know he was still alive >
  
  President Xi gets what he wants >
  
  Why is his head so weird shaped? >
  
  Voluntary, I’m sure. 
  I know corporations going wild is a bad thing, but being punished for being successful because your government wants to rob you? Madness. >
  
  They are communists and thats inline with their ideology. Jack Ma was full on western capitalistic, completely against the ccp’s ideology. The issue now is how that is going to benefits the rest of the citizen instead of the loss of one person’s wealth, for speaking against the government. >
  
  
  They are communists and thats inline with their ideology. 
  
  It is widely held that China is a State Capitalist society, rather than a communist one. >
  
  You forgot to mention they see state capitalism as a vector towards communism, or at the very least until true communism - a stateless and classless utopia - becomes truly feasible, which of course does not work unless the entire world follows suit. Until then, you have to play the capitalist game or get eaten alive by the rest of the world. >
  
  Exactly as Deng said. If you refuse to interact economically with the rest of the world you are only isolating yourself from the stability that trade brings. >
  
  Ant group should be broken up, their microloan model was scummy as hell, especially the way they pushed it >
  
  Hopefully someone else will quickly take control, otherwise nobody will be able to picnic in peace again. >
  
  Dunning-Krueger >
  
  I thought this guy was missing? >
  
  surprise he went back. last sighting he was in japan >
  
  What's this supposed to be? A company for ants? >
  
  So this guys not actually dead or..? >
  
  He's just lucky he has it to give... >
  
  he's still alive, thought he "disappeared" >
  
  According to charlie munger this guy deserved it >
  
  He didn’t say he got what he deserved. He said crossing the CCP was a bad idea given their system. >
  
  The most surprising thing from this article about Jack Ma is that Jack Ma used to be an English teacher lmao >
  
  He thought he was free to speak his mind, the CCP saw it differently. >
  
  He still have $BABA and he doesn't need money neither >
  
  He didn't lose revenue he just lost voting rights this is a restructuring intended to prepare for an IPO >
  
  "the change is being made to further improve the stability of our company structure and the sustainability of our long-term development."  
  This translates to:  Jack Ma, and whoever he cares about, get to stay alive for a bit longer... >
  
  Tbf you do want to see your government can crush billionaires from time to time, whatever else they are up to -- otherwise you can never be sure the billionaires aren't the ones in the crushing position 
  In world history we have seen many governments crushed for business leaders; Hawaii lost its sovereignty for a business plot 
  They should really do one a month if they are serious about reassuring us, I reckon, and I am a moderate >
  
  Except this is because Ma criticized the government, not because he did anything illegal. 
  You think the government should be able to arrest and seize assets of people they don’t like? Because this happens to a lot more people than just billionaires in China.. >
  
  Billionaires not having done anything illegal.
  Good joke. >
  
  I’m sure you have proof showing otherwise? >
  
  I said they did, you asking for proof otherwise? That they didn't?
  No I don't have proof that contradicts my statement. >
  
  No I’m asking for proof Jack Ma did something illegal that lead to his imprisonment. It’s pretty simple >
  
  So simple, yet you failed once already.
  But you are right, our divine overlords never avoid taxes, always pay fair wages, treat their competitors fairly, only employ incorruptible law abiding people, never influence any politician and don't accumulate wealth. Praise god for creating our eternal overlords. >
  
  Nice dodge. Thanks for admitting you lied >
  
  Its a mathematical impossibility, but sure. >
  
  Says the guy with no proof, hilarious >
  
  Turns out that time spent in a Chinese gulag can motivate people to do the darnedest things. >
  
  Oh man THAT is a FACE! >
  
  I always think of him when I read about the head-rounding helmets for kids and plastic surgery for adults that are popular in China.  So they can "get ahead".  LOL, the richest man in the country looks like a jack o' lantern a month after Halloween >
  
  I’ll bet Jack ma would agree
  r/fucktheccp >
  
  So the goverment forced him to get out, probably for 0 money.  But people will still buy from this company and support the chinese goverment directly while claiming they're getting great deals!
  We westerners are dumb as fuck. >
  
  China is run by the villains in an Ayn Rand book. They’re literally the Looter class in Atlas Shrugged. >
  
  Jack Ma Cok is his full name >
  
  If there's one thing I praise China for, it's making these billionaire fucks pay their fair share. >
  
  Based. It would be excellent if all billionaires did this with their companies and gave control to workers and the state. Instead we have shitshows like whatever is happening to Elon's businesses where one man destroys the livelihoods of thousands of people because he can't keep his mouth shut. >
  
  It’s not going to workers my guy. That’s just the headline. It’s going to the party and more specifically the tippy tippy top of the party. >
  
  Proof? >
  
  Ummm that’s how their whole government works?? >
  
  Yeah, I guess the billions and billions of dollars that did the biggest uplifting of poverty into the middle-class in modern human history just magically came out of nowhere. Silly me! >
  
  What are you talking about? This is referring to who takes possession of the Ownership stake. >
  
  Talk shit get hit >
  
  
  socialism with Chinese characteristics >
  
  Head!!!! That boys head looks like an orange on a toothpick. >
  
  imagine running your mouth when the government you are criticizing handpicked you to succeed. if they can make you, they can unmake you >
  
  Any sources?