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Chinese billionaire Jack Ma finally resigns after 18 billion dollor loss - news

Wednesday, May 20, 2020
Chinese billionaire Jack Ma finally resigns after 18 billion dollor loss - news
TOKYO (Monitoring Desk) - Jack Ma, China's richest man, was a partner and board of Japan's Softbank. Now that the bank has lost 18 18 billion, Jack Ma has finally resigned from the board.

 According to Mail Online, the bank had invested heavily in office-sharing firm VWork and taxi service application Uber Technologies, and it was in this investment that the bank suffered the most.

According to the report, the share price of Softbank in Japan has also dropped sharply.

Jack Ma has been on the bank's board for the past 13 years and will step down on June 25. No reason was given for his resignation.

Jack Ma also resigned as chairman of Chinese commerce company Alibaba in September last year.


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OTG Newz