Jack Ma, the founder of Alibaba and Ant Group, has seen his net worth drop to just over $30 billion, a significant decrease from his peak wealth of $61.7 billion. This decline has been particularly sharp in the past week, with Ma losing around $4 billion, Fortune reports.

Controversy and Consequences

Ma’s wealth is closely tied to Alibaba and Ant Group, both of which have been under scrutiny by Chinese authorities following Ma’s criticism of China’s financial regulators. This led to the cancellation of Ant Group’s $34.5 billion IPO, a $2.8 billion antitrust fine for Alibaba, and Ma relinquishing control of Ant Group.