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Ma’s Wealth Tumbles $752 Million as Alibaba Slides to Record Low

By Tony Seruga

Jack Ma, billionaire and chairman of Alibaba Group Holding Ltd.

Jack Ma, billionaire and chairman ofALIBABA GROUP Holding Ltd.

Photographer: Chris RatcliffeBLOOMBERG

Billionaire Jack Ma’s fortune declined $752 million Wednesday afterALIBABA GROUPHolding Ltd. dropped to the lowest level since China’s biggest e-commerce operator went public in September.

Ma’s net worth slid 2.4 percent to $31.2 billion as the company he founded declined 5.1 percent to close at $73.38 in New York.ALIBABA’s quarterly sales rose at the slowest pace in at least three years and transaction volumes missed analysts’ estimates amid a weakening Chinese economy. Ma, 50, who has a 6.2 percent stake in the company, is the world’s 21st-richest person, according to theBLOOMBERG Billionaires Index…

Ma’s Wealth Tumbles $752 Million as Alibaba Slides to Record Low

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