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Jack Ma s wealth tumbles by $12 billion in 2 months as China seeks to shrink the billionaire s financial empire snagarajan@businessinsider.com (Shalini Nagarajan) © Shu Zhang/Reuters Alibaba founder Jack Ma. Shu Zhang/Reuters Alibaba founder Jack Ma s wealth has fallen by $12 billion in just two months, from about $62 billion to $50.9 billion, according to the Bloomberg Billionaires Index. Ma s net worth has dropped as China tightens rules for the financial technology industry in the country. Beijing wants more oversight of Ma s financial empire: Ma s Ant Group has reportedly been forced to create a separate holding company for the group s financial operations. The holding company will be regulated by China s central bank, potentially curbing its ability to expand at the rate it has been in the past few years.

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