Ma Yun, who lost control of Ant Group, recently spotted in Thailand

[Image source=Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Major foreign media reported on the 7th that Ma Yun, the Chinese tycoon who relinquished control of the world's largest fintech company Ant Group, was spotted in Bangkok, the capital of Thailand.

According to foreign media, Supinya 'Jay Fai' Junsuta, a Michelin-starred chef in Bangkok, posted a photo of herself with Ma Yun on her Instagram account on the 6th.

Local Thai media reported that Ma Yun was seen together with Thai businessmen at a restaurant in Bangkok. Some media outlets also published photos of Ma Yun posing with the Thai champion at a boxing match held at a stadium in Bangkok.

Ant Group, a subsidiary of Alibaba Group founded by Ma Yun, announced on the 7th a change in its shareholding structure, revealing that Ma Yun has lost control over the company. Ant Group stated that the governance structure has changed so that Ma Yun, Ant Group's management, and employee representatives?ten individuals in total?exercise voting rights independently.

Previously, including friendly shares, Ma Yun's voting rights in Ant Group amounted to 53.46%, but due to this shareholding restructuring, it has been reduced to 6.2%.

Since Ma Yun publicly criticized Chinese financial regulators in October 2020 and became a 'persona non grata,' he has rarely appeared in public. In November last year, Japanese media reported that he had been staying in Japan for about six months and traveled between the United States and Israel during his stay.

This content was produced with the assistance of AI translation services.