The Wall Street Journal reports that the Trump Administration is considering a ban on U.S. investments in China’s two most valuable companies, Alibaba and TenCent. Alibaba was co-founded by Nets owner Joe Tsai and is the source of most of his wealth. Such a ban would almost certainly lead to a significant drop in his net worth.
The Journal reported...
Tencent and Alibaba are China’s two most valuable publicly listed companies, with a combined market capitalization of more than $1.3 trillion and scores of American mutual funds and other investors holding their shares. Alibaba’s New York-listed American depositary receipts fell more than 5% on Wednesday.