The billionaire founder of Ant Group, Jack Ma, is to give up control of the Chinese fintech giant after a regulatory crackdown.
Ant Group said that after the change no-one would have overall control.
Mr Ma, a former English teacher who founded e-commerce giant Alibaba, directly and indirectly controls more than 50% of Ant Group.
However, after the changes in governance structure, he will control just over 6%, according to an Ant Group statement.
蚂蚁集团股东投票权调整，马云不再是实际控制人
1月7日，蚂蚁科技集团股份有限公司（简称“蚂蚁集团”）发布持续完善公司治理的公告。公告表示，为持续完善公司治理，实现长期可持续发展，蚂蚁集团对股东上层结构作出调整，推动主要股东投票权与其经济利益相匹配，进一步提升公司治理的透明度和有效性。
调整完成后，蚂蚁集团将不再存在任何直接或间接股东单一或共同控制蚂蚁集团的情形。马云将不再是蚂蚁集团的实际控制人。
