News > How China Lost Patience With Jack Ma, Its Loudest Billionaire

How China Lost Patience With Jack Ma, Its Loudest Billionaire

Since September, China's government has launched a coordinated regulatory crackdown, which in November scuttled the Ant public offering and, together with tough new antitrust rules, triggered about a $140 billion, or 17%, decline in the market value of Ma's Alibaba.

Meanwhile, the flamboyant Ma has all but vanished from public view. As of early December, with his empire under regulatory scrutiny, Ma was advised by the government to stay in the country.