The two have different types of shares. Softbank and Yahoo hold preferred shares, which are shares that only enjoy dividends but cannot have voting rights on the company's business decisions; while Jack Ma holds common shares, which have business decision-making power. So although Jack Ma holds a small share in Alibaba, he has decision-making power.

PS: Hong Kong does not recognize the difference between common shares and preferred shares. In Hong Kong, preferred shares and common shares have the same voting rights and decision-making power. Because Jack Ma created it. If it were you, would you let others control what you created? This is just a superficial phenomenon. In fact, Jack Ma is still in control.