FX.co ★ Alibaba’s finance unit could be worth more than Goldman Sachs

Ant Financial, Alibaba’s financial services affiliate, is worth over $75 billion, Bloomberg reported referring to a survey of Hong Kong-based CLSA investment group. In terms of market capitalization, the corporation outpaced Goldman Sachs.
The most valuable Ant Financial’s asset is Alipay, China’s most popular online payment service, with a projected worth of $50 billion. Its micro loans service is estimated at $8 billion, whereas Ant’s wealth management unit is given a valuation of $7 billion.
Therefore, Ant Financial outstripped Goldman Sachs, a US major investment bank. Its market value equaled $66.56 billion as of a Wall Street close on September 19.
Alibaba was founded in 1999 by Chinese entrepreneur Jack Ma and has evolved into the e-commerce giant.