Business
What happens to China’s rich and famous when they run into trouble with the law? – ABC News
China is producing billionaires faster than anywhere on earth. But many of those who reach the pinnacle of fame and fortune find danger also lurks at the top.
Jack Ma was worth an estimated $US50 billion ($64.9 billion) when he suddenly vanished last year.
He had been gearing up for a major milestone.
The outspoken billionaire had spun his financial tech company Alipay out into a new venture, Ant Group, which was about to launch on the Hong Kong and Shanghai stock exchanges.
It was to be the biggest in history, expected to raise some $US34.5 billion ($44 billion) from investors. It would have valued Ant at more than $US300 billion.
But two days before…
-
Noosa News12 hours agoBrisbane nation’s third-youngest capital; Leaders condemn anti-immigration rally
-
Noosa News21 hours agoQld nurses poised to strike deal with Crisafulli government
-
General21 hours agoGeelong Cats AFL star Bailey Smith details mental health battle during All-Australian speech
-
General18 hours agoUS CDC boss Susan Monarez refuses to quit, defying Trump’s White House