Shuli Ren, Columnist

Jack Ma’s Blunt Words Just Cost Him $35 Billion

China just showed the billionaire who’s boss in derailing fintech giant Ant Group’s monster IPO. Regulators might do better to heed his words instead.

November 3, 2020 at 9:59 AM EST

Updated on

November 3, 2020 at 1:08 PM EST

By Shuli Ren

Shuli Ren is a Bloomberg Opinion columnist covering Asian markets. A former investment banker, she was a markets reporter for Barron’s. She is a CFA charterholder.

If Jack Ma says systemic risk is not China’s Achilles heel, hear him out. He could be part of the solution.
Photographer: Anthony Kwan/Bloomberg

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Jack Ma is a very busy man.

China’s richest man has been busy launching the world’s biggest IPO. He has been busy preparing for Alibaba Group Holding Ltd.’s grandest four-day Double Eleven shopping extravaganza. And yet two weeks ago, Ma somehow found the time to opine on China’s banking system at a high-profile financial forum in Shanghai, once again throwing himself into the eye of the storm.

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