Jack Ma terrible week By Timothy McDonaldBBC News, Singapore

Things did not quite go according to plan though.

Ant was prepared for a dual listing in Hong Kong on Thursday and Shanghai worth about $ 34.4bn (£ 26.5bn).


shares Mr. Ma reportedly worth about $ 17 billion, and would have taken his net worth of approximately $ 80 billion.

"This agreement not only was cleared for takeoff, the wheels were literally off the ground," says Drew Bernstein, partner co-manager Marcum Bernstein & Pinchuk, which advises Chinese companies.

Some analysts saw the move as an attempt by Beijing to humiliate a company that had become too powerful and a leader who had been left open.

So how did Ma - a man who came from meager beginnings to become a symbol of the potential of China and its growing technological strength - become a threat? rags to riches

Ma raised the ire of officials of the Chinese government at a technology conference financial last in Shanghai month, where banking sector compared dominated by the state of China " pawnshops "and lamented his lack of Innovation.

In some respects, it was vintage, Jack Ma, according to Duncan Clark, the author of Alibaba: The house that Jack Ma, built.

"This is not the first time he's gone off the leash. Just do not like to follow him a script and narration in particular. And he likes to be provocative, like any great storyteller, "he says. Css-1pzprxn-BulletListContainermargin-left: 1.5rem; CSS-1pzprxn-BulletListContainer Five things about Alibaba, Jack Ma

And the Like many great storytellers, often drawn in autobiographical detail. He tells his own story as a story of perseverance, but never their failures and struggles omitted. He grew up in poverty in Hangzhou, he struggled in school and not their entrance exams to college twice. When he tried to get a job, it is thrown back by dozens of businessmen. It applies to Harvard 10 times, but never entered.

Perhaps the most famous applies to work KFC, only to discover later that 24 people interviewed, he was the only one who didn 't get a job.

He passed the entrance exam was the third attempt and teachers of the university. He stayed for several years later as an English teacher. And it was on a trip to the US as a translator who first discovered the internet.

After a failed Internet company, founded Alibaba in 1999 with $ 60,000 loan armed himself with friends.

Alibaba became a huge success, dominating Chinese e-commerce and increased $ 21.8 bn in its own sale of the initial part in 2014. He formally retired Alibaba last year.

Today, of course, that is not always considered David take Goliath.

"He has made his living out of being underestimated. It is increasingly difficult. As more rich and more powerful, building expectations, "says Mr. Clark.

"scale steep interest

expectations The had certainly built to debut in the market ant Group.

best service known ant, Alipay, which started as payment platform Alibaba. payments was held in custody until buyers had received your purchase. it was critical to the growth of Alibaba, because it allowed buyers to feel more secure shopping online. Now, it is more used than cash or credit cards in China.

the company separated in 2011 and later renamed Ant financial and then Grupo Ant. Alibaba suggested at the time the move was due to regulatory changes in China. Jack Ma had a large share in the division of the company, which expanded to other financial services such as insurance, wealth management and consumer loans

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