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Jack Ma leaves SoftBank’s board of directors after losing a million dollars

May 19, 2020

After 13 years of working closely with SoftBank, China’s richest man left the board amid the worst operational crisis the company has faced in its history.

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Jack Ma leaves SoftBank’s board of directors after losing a million dollars
Jack Ma leaves SoftBank’s board of directors after losing a million dollars


The co-founder of Alibaba and China’s richest man will leave the board of Soft bench On June 25th, after 13 years of close relationship, the group reported in a statement.

In the document, the group confirmed historical losses in its fiscal year, which ended in March at $ 13 billion, the worst in the company in its history.

Ma, whose net worth is $ 48 billion, is the youngest high-profile figure that SoftBank left after the fashion company’s director last December. UniqloTadashi Yanai left his position as external director of SoftBank after 18 years in office amid the negative effects of We work in the company accounts.

Masayoshi Son, CEO of Softbank, one of the first investors to bet on Alibaba in 2000, of which the Japanese conglomerate controlled about 25%, regretted Ma’s departure and found that he will have a close relationship with the Chinese tycoon. .

“It is sad, but we are still in direct contact. Shortly before COVID-19, we met face-to-face for dinner, business and life conversations every month. I think we will continue to be friends for the rest of our lives, ”he said.

Ma left Alibaba management last September and there is speculation that he could leave the board this year while focusing on philanthropic efforts.