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Alibaba Co-Founder Downsizes Exposure To Alphabet, Microsoft, Twitter For Other Bets Including Blockchain

Benzinga Real-time News · Sep 8, 2022 07:51

MSFT -0.88% TWTR -- GOOG -0.90% GOOGL -0.97% BABA -0.31%

The family office of Alibaba Group Holding Limited (NYSE:BABA) co-founder Joe Tsai has sold almost all of its U.S. stocks, Bloomberg reports.
Blue Pool Capital has ditched holdings in over 30 U.S.-listed companies, mainly in the tech sector, since 2021.
The companies included Alphabet Inc (NASDAQ:GOOG) (NASDAQ: GOOGL), Microsoft Corp (NASDAQ:MSFT), and Twitter Inc (NYSE:TWTR).
It only held a 9.8% stake in Blue Owl Capital Inc (NYSE:OWL) as of June, down from 14% in December.
Blue Pool invested in over ten unlisted startups globally since early 2021 in sectors including sports, blockchain, and health care.
It is a growing trend that has caught up with wealthy investors as private asset valuations are typically less susceptible to rising rates, slowing economic growth and widespread inflation.
Softbank Group Corp's (OTC: SFTBY) Vision Fund suffered a record $23 billion loss due to the tech meltdown. Most of the losses came from a plunge in the valuations of portfolio companies, including Coupang, Inc (NYSE: CPNG) and DoorDash, Inc (NYSE: DASH).
Price Action: BABA shares traded lower by 1.84% at $88.93 in the premarket on the last check Thursday.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeline for any particular purpose of the above content.

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In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).

In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.

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In Malaysia, investment products and services available through the moomoo app are offered through Futu Malaysia Sdn. Bhd. ("Moomoo MY")regulated by the Securities Commission of Malaysia (SC). Futu Malaysia Sdn. Bhd. is a Capital Markets Services Licence (License No. eCMSL/A0397/2024) holder. This advertisement has not been reviewed by the SC.

Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd.，Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc., and Futu Malaysia Sdn. Bhd. are affiliated companies.

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The moomoo app is an online trading platform offered by Moomoo Technologies Inc. Securities, brokerage products and related services available through the moomoo app are offered by including but not limited to the following brokerage firms: Moomoo Financial Inc. regulated by the U.S. Securities and Exchange Commission (SEC), Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS), Futu Securities International (Hong Kong) Limited regulated by the Securities and Futures Commission of Hong Kong (SFC), Moomoo Financial Canada Inc. regulated by the Canadian Investment Regulatory Organization (CIRO) and Futu Securities (Australia) Ltd regulated by the Australian Securities and Investments Commission (ASIC).

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