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

The family office of Alibaba Group Holding Limited 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 GOOG GOOGL, Microsoft Corp MSFT, and Twitter Inc TWTR.
It only held a 9.8% stake in Blue Owl Capital Inc 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 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 CPNG and DoorDash, Inc DASH.
Price Action: BABA shares traded lower by 1.84% at $88.93 in the premarket on the last check Thursday.