Between its Hong Kong IPO on November 26 last year and July 2 this year, Alibaba founder Jack Ma's shareholding in the company was reduced by over 233.86 million shares, bringing his shareholding to less than 5% for the first time.
Based on the above range average share price and exchange rate estimates, Jack Ma cashed out about RMB 43 billion ($6.1 billion).
Alibaba Group recently announced its latest fiscal year report, which showed that as of July 2, 2020, Jack Ma's stake in Alibaba fell to 4.8%.
As of November 26, 2019, when Alibaba listed in Hong Kong, Jack Ma also held a 6% stake The number of shares held was 1.277 billion.
On July 2, 2020, his holdings dropped to 1.043 billion shares.
In the last 7 months, Jack Ma has reduced his holdings by 234 million shares or 1.2%.
The exact date and price of Jack Ma's reduction was not disclosed, but based on the average share price and exchange rate since Alibaba's Hong Kong listing, the cumulative cash Jack Ma can get from his reduced holdings was about 43 billion yuan.
Since its IPO in Hong Kong, Alibaba's share price was up 45%, including 23.26% this year.
Not only Jack Ma, but Joseph Tsai, another founder of Alibaba, also made reductions in his holdings.
Joseph Tsai's holdings were reduced by 64 million shares from 411 million to 347 million shares, bringing his holdings down from 2% to 1.6%.
This means Joseph Tsai reduced his holdings to cash out about 12 billion RMB during this period.
Softbank's shareholding remained unchanged, but the percentage of shares held decreased slightly from 25.2% to 24.9%, still making it the largest shareholder in Alibaba.
Last year Jack Ma stepped down as chairman of Alibaba Group on Teacher's Day, and in June this year he stepped down as a director of Softbank, but he is still on the board of Alibaba Group.
Jack Ma's plans are to focus on his philanthropic work and to return to teaching.
