The super rich to get richer on investments in Jack Ma’s Ant Group

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Jack Ma’s Ant Group is creating a new group of super wealthy people in China while also giving a boost to some older fortunes globally.Hong Kong’s Li Ka-shing, the family behind a French supermarket giant, the son of a Taiwanese real estate billionaire, and Chinese retail tycoon Shen Guojun are among those who have invested in the online payments provider, which may be valued at $225 billion when it goes public next month.This wasn’t just some one-off tech bet. They’d all established relationships with Ma’s empire before Ant’s financing round two years ago, along with Thailand’s Chearavanonts, the Tungs of Hong Kong and Lu Zhiqiang of China Oceanwide Holdings Ltd.At least seven tycoons put in almost $700 million combined, with returns that could reach 50 per cent based on Ant’s targeted valuation, according to a Bloomberg analysis of the firm’s IPO prospectus.Family offices aren’t scared to change their investment methodology as a response to the digital world, said Sankar Krishnan, executive vice president of banking and capital markets at Capgemini SE in New York. They want to invest in the world’s most-valuable fintech.Ant is said to be …

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