Government probes in Alibaba Group and Ant Group have hurt the fortune of China's Internet icon Jack ... [+] Ma. ASSOCIATED PRESSPlunging shares in Alibaba Group amid a China government anti-monopoly probe this month has grabbed the attention of investors worldwide. It’s the latest bad news for hitherto high-flying Alibaba and its billionaire main founder Jack Ma in the past several weeks. Zhong’s fortune has rocketed with the Sept. 8 listing of his main business, Nongfu Springs, which controls about a quarter of China’s bottled water market. A sister-in-law of Zhong Shanshan’s wife – Lu Xiaozhen—also shares a billion-dollar fortune with her son and daughter.

Source: Forbes December 31, 2020 12:00 UTC