According to the ownership structure mentioned in the prospectus, Jing Xiandong, chairman of ant group, will increase his wealth to $2.9 billion, and 17 current and former Alibaba and ant group executives will join the ranks of billionaires.
A representative of ant financial declined to comment on the results.
The combined shares of these billionaires, most of whom are Alibaba partners, are worth $57.9 billion. Alibaba partners, an elite group of 36 people, was founded 10 years ago to encourage internal cooperation and, most importantly, to determine the annual bonus for all management members.
Alibaba is the largest shareholder of ant group, with a 33% stake. The remaining shares belong to 29 other shareholders, including those who have invested in ant group for many years. According to the prospectus, Ma Yun is the ultimate controller of ant group.
According to the prospectus, Jun Han holds 30% of ant groups shares, worth $67.2 billion, while junao owns 21% of ant groups shares, worth $46.5 billion. Ma Yun, Jing Xiandong, Hu Xiaoming, CEO of ant group and Jiang Fang, non-executive director, hold shares of Junhan and junao through Hangzhou yunplatinum Investment Consulting Co., Ltd.
Stephen Chan, a partner at dechertllp, a Hong Kong based law firm that specializes in corporate finance, said the limited partnership structure allows the general partner, the YUNPU controlled by Mr. Ma, to exercise full voting rights, regardless of the number of limited partners.
As early as 2015, at least 12 Jun Ao shareholders became billionaires, including Lu Zhaoxi, former chief executive officer of Alibaba, and Shao Xiaofeng, former chief risk officer and current company secretary general. Since then, in the multiple rounds of financing of ant group, the ownership structure of junao has changed.
With the listing of ant group, one thing is certain: more employees of Alibaba and ant group will realize financial freedom. (Chen Chen)
Extended reading of Xinhua News Agency: it is suggested that byte skipping should be carefully studied and carefully decided that Huawei developer conference will be held on September 10: Hongmeng OS and emui11 will be announced, but Alibaba Tencent and Baidu Jingdong will not do it! Source: Qiao JunJing, editor in charge of Netease science and Technology Report_ NBJ11279