Deals
Alibaba Hidden Billionaires Unveiled as Alipay Estimate Raised
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Simon Xie, an Alibaba Group Holding Ltd. co-founder and second-biggest shareholder of its finance affiliate that owns Alipay, may become a billionaire as the estimate for the value of the electronic-payment company rose.
Xie, 44, owns 9.7 percent of Zhejiang Ant Small & Micro Financial Services Group Co., the parent of Alipay, according to company filings obtained by Bloomberg News. Small & Micro Financial would be worth at least $25 billion when it sells shares in a public offering, according to an Aug. 12 filing with the U.S. Securities and Exchange Commission, valuing Xie’s stake at more than $2.4 billion.