China has ordered Alibaba to pay a record fine of 18.2 billion yuan ($2.8 billion) after antitrust regulators concluded that the online shopping giant had been behaving like a monopoly.
Is 2.8 billion dollars high as far as fines go? I’m trying to think of other times states hit companies with fines but can’t remember the amounts. What was the highest fine paid by a company to a government?
Which seems like some of the biggest fines in history are about 10x that. Still tho, you’ll hear about banks getting fined 100M USD which is basically a slap on the wrist. So 3B is probably pretty substantial.
Is 2.8 billion dollars high as far as fines go? I’m trying to think of other times states hit companies with fines but can’t remember the amounts. What was the highest fine paid by a company to a government?
the EU fined Google for about 9 billion iirc, dunno what came of it
I found this: https://www.managementtoday.co.uk/biggest-corporate-fines-history-changed-business/reputation-matters/article/1585541
Which seems like some of the biggest fines in history are about 10x that. Still tho, you’ll hear about banks getting fined 100M USD which is basically a slap on the wrist. So 3B is probably pretty substantial.