A cautionary tale of two tycoons

Jack Ma and Mikhail Khodorkovsky were both cut down to size for challenging the state. Question is what more China's leadership will do to assert its authority.

Mr Jack Ma and Mr Mikhail Khodorkovsky were both cut down to size for challenging the state. PHOTOS: AFP, BLOOMBERG

(BLOOMBERG) In the thick of it, back in Moscow in 2003, it never seemed possible that the onslaught would go as far as it did. In the end, it took only months for Mr Mikhail Khodorkovsky to find his oil empire under siege, and not much longer for the edifice to crumble.

The parallel between the Yukos Oil debacle almost two decades ago and the crackdown on Alibaba Group Holding and affiliate Ant Group over the past weeks will seem at best inexact. And, to be clear, it is.

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