Thedailynewsngr
  • Home
  • News
  • Business
  • Education
  • Entertainment
  • Politics
  • Sports
    • Sports Betting
  • Videos
  • Sections
    • Special Reports
    • Travels
    • Religion
No Result
View All Result
  • Home
  • News
  • Business
  • Education
  • Entertainment
  • Politics
  • Sports
    • Sports Betting
  • Videos
  • Sections
    • Special Reports
    • Travels
    • Religion
No Result
View All Result
Thedailynewsngr
No Result
View All Result

Alibaba’s Jack Ma sells $8.2 bn worth shares

July 13, 2020
in News
Kindly share this post

Alibaba
Jack-Ma

Alibaba Group Holding Ltd co-founder Jack Ma has cut his stake in the company over the past year to 4.8 per cent from 6.2 per cent, cashing out around 8.2 billion dollars at its current share price.

The firm’s annual filing showed that Jack loses 40 percent of his shares.

This divestment comes as Jack retired as the Chinese e-commerce company’s executive chairman in September and pulled back from formal business roles to focus on philanthropy.

READ ALSO: Nigerian celebrities mourn late Majek Fashek

However, Alibaba did not disclose the average selling price of his divestment.

Its share price has risen around 40 per cent since jack reported his 6.2 per cent holding in the company a year ago.

The stock’s stellar performance has been helped by forecast-beating earnings growth, even as China’s economy sharply slows, as more people shop online for essentials due to the COVID-19 pandemic.

TheDailyNewsngr


Kindly share this post
Tags: AlibabaJack Ma

Related Posts

Bawa

Malami may compromise Bawa as EFCC chair, says Sagay

February 25, 2021
Gumi

Gumi: don’t call bandits criminals or else…

February 25, 2021

Burial of NAF officers takes-off in Abuja

February 25, 2021

‘Uncountable Nigerians wallowing in abject poverty’ – Ooni charges Govts

February 25, 2021

I sleep with snakes, eat human flesh -Kenyan woman confesses

February 25, 2021

Bandits declares Buhari not serious about peace talks, invite him to lead dialogue

February 25, 2021

Discussion about this post

Latest News

  • Malami may compromise Bawa as EFCC chair, says Sagay
  • Gumi: don’t call bandits criminals or else…
  • Burial of NAF officers takes-off in Abuja
  • ‘Uncountable Nigerians wallowing in abject poverty’ – Ooni charges Govts
  • I sleep with snakes, eat human flesh -Kenyan woman confesses
  • Bandits declares Buhari not serious about peace talks, invite him to lead dialogue

© 2020 thedailynewsngr

Navigate Site

  • About Us
  • Contact us
  • Privacy Policy
  • sitemap
  • Advert Rates
  • Terms

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • Education
  • Entertainment
  • Politics
  • Sports
    • Sports Betting
  • Videos
  • Sections
    • Special Reports
    • Travels
    • Religion

© 2020 thedailynewsngr

Do NOT follow this link or you will be banned from the site!