Ant Group Founder Jack Ma is giving up control of the Chinese fintech company. Ma, who founded the e-commerce company Alibaba ($BABA@China), directly and indirectly, controls more than 50 percent of Ant Group. Following the changes in the company structure, he will control just 6 percent, and the shareholding structure will also change. In November 2020, Ant’s $30 million stock market flotation, which would have been the world's largest, was canceled at the last minute after Chinese authorities cited “major issues” over regulating the firm.