Alibaba's Jack Ma sells $9.6 billion worth shares, stake dips to 4.8%

21 Sept 06:39 Key points summarised by AI

Alibaba co-founder Jack Ma significantly reduced his stake in the company over the past year, dropping from 6.4% to 4.8%.
This divestment amounted to approximately $9.6 billion at current share prices, following his retirement as executive chairman to focus on philanthropy.
Executive Vice Chairman Joseph Tsai also decreased his stake from 2.3% to 1.6%, offloading shares worth $4.1 billion.
Both Ma and Tsai have steadily lessened their involvement in Alibaba's daily operations, with their share sales supporting their individual philanthropic endeavors, including global COVID-19 relief efforts.

New home loan scheme aims to boost property sector with Bt125 billion

Today 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.