Alibaba's assets eroded by Rs 25,52,567 crore in a single year

MUMBAI: Opposition to the government in China is a clear example of how a businessman can be overwhelmed by the one-year erosion of assets of Alibaba group founder Jack Mani.

Since Jack Ma's opposition to China's policy last year, his wealth has shrunk by 3 billion, or Rs 3,6,8 crore.

It has been in dispute with China over the anti-monopoly regulation since last year. In October last year, Jack Mae criticized China's financial system. Then the bad days of the Alibaba group began. China's opposition gardener Jack Ma himself has disappeared and is not seen in public. Being in Hong Kong is being discussed in the business world.

In October last year, Jack Mae sharply criticized China's financial controls and state-owned banks in the Chinese city of Shanghai. Following the criticism, the Chinese government launched an anti-trust investigation against Alibaba and fined it 2.50 billion. Alibaba's market cap in the technology sector has hit an estimated ડો 3 billion in the last one year since the incident.

This is the first time in the world that a company's market cap has dropped so much, a report said. Alibaba's stock, which was trading at an all-time high in October last year, is currently trading at an all-time low on the Hong Kong Stock Exchange.