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Record penalty for Ma's Alibaba marks tumultuous stretch for its founder

Alibaba founder Jack Ma

Once seemingly untouchable, Alibaba founder Jack Ma has endured a tumultuous run that saw his Chinese e-commerce giant hit with a record 18 billion yuan ($2.75 billion) antitrust fine on Saturday, resolving one key uncertainty even as others persist for himself and his business empire.

The reversal of fortune for the 56-year-old Ma, who has all-but-disappeared from public view since an October speech blasting China’s regulatory system, has been striking for an entrepreneur whose transformation of commerce in China - and his relentless optimism - commanded cult-like reverence.

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