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asia

Jack Ma to Leave SoftBank Board Amid Record Losses and a Stock Buyback

By
Shai Oster
· · Source: The New York Times

Jack Ma, the iconic founder of Chinese e-commerce giant Alibaba, is leaving the board of SoftBank amid record losses and a massive buyback program to prop up its shares. The resignation caps one of the most successful investments in venture capital history. SoftBank founder Masayoshi Son invested $20 million in Alibaba nearly 20 years ago, a stake now worth around $120 billion– more than...

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