How can Jack Ma still manage Alibaba if he is not the largest shareholder?
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1Person Answer
马云和孙正义签订了一致行动协议。在表决权上，他要和马云保持绝对的一致。所以马云虽然只有6.4%的股份，但却拥有74.7%的投票权，拥有完全的控制权。
还有阿里巴巴特殊的合伙人制度，其中只有马云和蔡崇信是永久合伙人，即使拥有股权也不等于你有话语权。
Professional answer
Jack Ma and Masayoshi Son signed a concerted action agreement. In terms of voting rights, he must be absolutely consistent with Jack Ma. So although Jack Ma only has 6.4% of the shares, he has 74.7% of the voting rights and has complete control.
There is also Alibaba's special partnership system, in which only Jack Ma and Joseph Tsai are permanent partners. Even if you have equity, it does not mean you have a say.
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