China has put a record antitrust fine on Alibaba Group of $2.8 billion.
Now as a result Alibaba’s American depositary receipts climbed 9.3% on Monday in New York. Jack Ma’s fortune also increased by $2.3 billion to a net $52.1 billion, according to the Bloomberg Billionaires Index.
“Alibaba would not have achieved our growth without sound government regulation and service, and the critical oversight, tolerance, and support from all of our constituencies have been crucial to our development,”
Alibaba said in an open letter.
“For this, we are full of gratitude and respect.”