Ant Group Says Its Founder, Jack Ma, Will Relinquish Control

One of China’s most influential tech titans, Ant Group, said on Saturday that its founder, Jack Ma, plans to relinquish control of the company.

Ant Group is the fintech sister company of the e-commerce behemoth Alibaba, one of China’s most valuable private companies and the bedrock of the business empire of Mr. Ma, the country’s most famous tycoon.

This is a developing story.

Chang Che contributed reporting and Zixu Wang contributed research.