Jack Ma replaced SoftBank as Alibaba's largest shareholder. According to the latest news, Alibaba founder Jack Ma purchased approximately $50 million in Alibaba stocks in the fourth quarter of 2023, exceeding the 4.3% reported at the end of 2021. Alibaba's current chairman, Cai Chongxin, purchased $150 million in Alibaba stocks through his family investment platform, Blue Pool Capital Management. According to sources, Jack Ma and Cai Chongxin jointly hold more shares than SoftBank. In the past two years, Sun Zhengyi's control of SoftBank has reduced its shareholding ratio through forward contracts, from about 7% in December 2022 to around 2% in March last year, and less than 0.5% in May. Jack Ma has now replaced SoftBank as Alibaba's largest shareholder.