Jack Ma Removes Himself as Owner of Alibaba Business Licenses

The change was made to reduce the administrative burden on the Chinese tycoon, who earlier announced he would step down as executive chairman

Shan Li

Sept. 30, 2018 11:47 p.m. ET

BEIJING—Chinese e-commerce tycoon Jack Ma has surrendered his ownership of entities that hold Alibaba Group Holding Ltd.’s business licenses in China.

Mr. Ma, 54, relinquished his ownership in Alibaba’s main “variable interest entities,” Alibaba confirmed Monday. Those entities typically allow Chinese technology companies to take investments from overseas entities. The news was earlier reported by the Financial Times.

The...