Chinese billionaire Jack Ma recently agreed to give up control of Ant Group as part of changes to the fintech’s corporate structure, which will supposedly not have an impact on “the economic interests of any shareholders of Ant Group and their beneficiaries.” Once the process is complete, no single shareholder will have control over Ant Group, the fintech said in a statement. Shareholders’ Economic Interests Unaffected Billionaire and Chinese fintech giant Ant Group’s controlling shareholder, Jack Ma, recently agreed to an arrangement that dilutes his shareholding and his voting rights. As a result of these changes, Ma, who directly and indirectly controlled more than 50% of Ant Group, will see this influence whittled down to just 6%. According to a statement issued by the fintech firm on Jan. 7, the adjustment to the Ant Group’s respective shareholders’ rights will see “the founder, representative of our management and employees exercising their voting rights independently.” Stil
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