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Search resuls for: "Katrina Northrop"


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No businessman in China was more successful, famous or rich than Jack Ma, whose magic touch turned companies like Alibaba into international juggernauts. But an investigation by The New York Times and The Wire China found that another Chinese businessman, with deep connections to relatives of China’s political elite, had been secretly investing in Mr. Ma’s companies. Through a network of shell companies and stand-ins, that businessman, Xiao Jianhua, entered into deals in Mr. Ma’s companies over a period of five years, the investigation found. Mr. Xiao, a billionaire, is now in detention serving a 13-year-sentence for bribery and corruption, a high-profile target in President Xi Jinping’s dramatic consolidation of power. Mr. Ma, for his part, has all but retreated from public life, having no formal role in the companies he founded.
Persons: Jack Ma, Xiao Jianhua, Xiao, Xi, Ma, Alibaba, Ma “, Ma’s Organizations: The New York Times, Mr Locations: China
Four years ago, Jack Ma was the embodiment of China’s spectacular economic rise. Already the country’s wealthiest and most famous businessman, he was poised to become one of the richest in the world. The expected initial public offering of Mr. Ma’s fintech company, Ant Group, was projected to surpass the record-shattering launch of his e-commerce giant, Alibaba. At the same time, another wealthy Chinese businessman was awaiting a very different fate. Mr. Xiao had amassed a fortune manipulating markets and cultivating close ties to relatives of top Chinese officials, and he was about to be made an example.
Persons: Jack Ma, Ma’s, Bill Gates, Steve Jobs, Xiao Jianhua, Xiao Organizations: Ant, The New York Times Locations: China
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