Alibaba Co-founders Become Largest Shareholders After $200 Million Share Purchase

The move, which added $13 billion to Alibaba's value, comes amid falling shares and increased competition from e-commerce upstarts.

Alibaba co-founders Jack Ma and Joe Tsai have purchased $200 million worth of the company's shares, boosting the company's value by $13 billion.
The purchase has made Ma and Tsai the largest shareholders of Alibaba, surpassing SoftBank.
Alibaba's shares have been falling due to consumption worries, competition from e-commerce upstarts, and geopolitical tensions between the U.S. and China.
The company is also facing challenges from PDD Holdings, whose growth has outpaced Alibaba's.
Despite the purchase, it's not expected that Ma will take a more active role in the company's operations.