Alibaba shares fall 6% on slow revenue growth wiping $1.5B from Jack Ma’s wealth

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The New York-traded shares of Alibaba on Friday fell nearly 6% to $199.70 after the Chinese e-commerce company projected its revenue growth to slow down this year. This wiped off over $1.5 billion from the estimated wealth of its Co-founder Jack Ma. Although Alibaba posted a 22% rise in March-quarter revenue, this was its slowest pace of expansion on record.

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