Jack Ma’s wealth drops $3b as Alibaba shares slide on Ant Group's IPO freeze

Jack Ma’s wealth drops $3b as Alibaba shares slide on Ant Group's IPO freeze

REUTERS/Brendan McDermid

Jack Ma was poised to become Asia’s richest person with Ant Group Co.’s initial public offering. Instead, his net worth tumbled almost $3 billion and both retail and institutional investors who were betting on a big first-day pop are in limbo.