Ant Financial Now Worth More Than Goldman Sachs. Ant …who?
This giant Ant is Jack Ma’s Finance Business and it may be worth more than Goldman Sachs according to an article by Bloomberg.
Ant Financial owns Alipay, an AliBaba spinoff that became China’s most popular online payment service. According to Elinor Leung, the head of telecom and Internet research at CLSA in Hong Kong, Ant Financial’s investment in Alipay alone is worth $50 billion. Its micro loans and wealth management arms are together worth another $15 billion with investments elsewhere taking its total value past Goldman Sach’s roughly $70 billion
Goldman Sachs is one of the world’s most recognised investment banks. It ranked #1 in M&A activity for Q1 of 2016 with total deal volume in excess of $220 billion. According to the Business Insider, Goldman Sachs worked on 8 of the top 10 global M&A deals in the first quarter of this year.
Returning to Ant Financial and Alipay …
Alipay got its start in 2004 as a way for the customers of Alibaba Group Holding Ltd. to more easily buy goods online. Now the business’s parent company may be worth $75 billion, or more than Goldman Sachs Group Inc. That’s the conclusion of Elinor… Jack Ma’s Finance Business May Be Worth More Than Goldman Sachs – Bloomberg
thumbnail courtesy of bloomberg.com