Ma to be 11th richest man with over $71 bn wealth with Ant Group IPO: Bloomberg

Alibaba Group Co-founder Jack Ma is set to become the world's 11th richest man with over $71 billion wealth with Ant Group's $34.5 billion IPO, Bloomberg estimates. Ma's 8.8% stake in Alibaba Group subsidiary Ant Group is worth $27.4 billion based on the stock pricing. Fintech company Ant Group has announced to raise $34.5 billion in the world's largest IPO.