Alibaba: How Chinese Tycoon Jack Ma Lost $ 11 Billion In Two Months (And Why Heࢀ™s Being Targeted By Chinese Authorities)

Image source, Getty Images Caption, Jack Maࢀ™s problems began when one of his big deals failed: the Grupo Hormiga IPO. Chinese mogul Jack Ma has not had a good end of the year. A co-founder of Alibaba, one of the Asian nationࢀ™s largest business empires, he has lost nearly $ 11 billion since late October, when authorities stepped up scrutiny of his company and other large tech conglomerates. This year Maࢀ™s fortune reached $ 61.7 billion and he came close to once again becoming the richest person in China. However, his net worth fell to $ 50.9 billion, according to…