Alibaba Loses Rs 25.52 Lakh Crore As A Result Of Jack Ma's Opposition To The Chinese Government.

Facing the government in China is not easy. Those who oppose the government here have to pay a heavy price. An excellent example of this is Jack Ma, the founder of the Alibaba Group. Since Jack Mae began opposing the government last year, his group has lost 4 344 billion, or about Rs 25,52,567 crore.

The controversy has been going on since last year.

His dispute with the government over the anti-monopoly regulation has been going on since last year. In October last year, Jack Mae criticized China's financial system. The Alibaba Group has had a wrong time since then. Jack Ma himself went missing and has never been out in public since. There have been recent reports that he is living in Hong Kong and has also traveled abroad.

Opposition to China's policy

In October last year, he criticized China's monetary standards and state-owned banks in the Chinese city of Shanghai. He also questioned the Basel Accords. As a result, Beijing launched an antitrust investigation against Alibaba and fined it 2. 2.8 billion. China's state media have also found online propaganda against Jack Mani. His image began to show as a brutal, money-making businessman.

The massive decline in market cap

Alibaba, a well-known Chinese technology company, led by Jack Ma, has seen its market capitalization plummet by about 4 344 billion in just one year. According to a Bloomberg report, this is the most significant drop in a company's market capitalization in the world.

Alibaba's stock traded at a record high in October last year on the Hong Kong Stock Exchange, which has reached a record low. It is trading about 43% below its October 2020 record.