一文详解阿里合伙人制度，蒋凡事件谁是赢家？

时间：2020-04-28 08:18:00 栏目：头条新闻

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4月27日下午，阿里公布了蒋凡事件的调查处理结果：蒋凡遭除名阿里合伙人、记过、降级、取消上一财年度所有奖励。

至此，这场infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/feiwen.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>绯闻闹剧终于落下帷幕，不过引发这场闹剧的总裁夫人面对这样的结果，会怎么想呢？

总裁夫人手撕小三

4月17日，天猫总裁蒋凡的夫人在infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/weibo.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>微博发声“这是我第一次也是最后一次警告你，再来招惹我老公我就不客气了，老娘也不是好惹的。望自重，好自为之@张大奕infotextkey>TPs://www.169zx.com/tag/EV.html target=_blank class=infotextkey>EVe。”

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张大奕何许人呢？infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/zhongguo.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>中国infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/dianshang.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>电商第一网红，infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/PS.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>PS://www.169zx.com/tag/shangshigongsi.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>上市公司如涵控股联合创始人与CMO。

inline="0" src="htinfotextkey>TP://p3.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/PS.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>PStainfotextkey>TP.com/linfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARge/pgc-image/RxLW5SOD38minfotextkey>TPG" />

蒋凡作为阿里史上最年轻的合伙人，有一连串的biaoqian.html target=_blank class=infotextkey>标签：infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/zhongguo.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>中国最牛80后、infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/zhongguo.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>中国40位40岁以下商界精英、业内业外公认阿里“第三代”接班人有力人选&hellinfotextkey>ip;&hellinfotextkey>ip;

就在此事闹得沸沸扬扬之际，隔天蒋凡在阿里内网发帖，就infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/wangluo.html target=_blank class=infotextkey>网络传言带来的不好影响对公司和同事道歉，并请求公司对自己展开调查。

总裁、网红、正室手撕小三，这恐怕是史上最贵的一条infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/weibo.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>微博了，一夜之间阿里 infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/ganggu.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>港股市值跌去将近500亿港元。

马云曾在一封电子邮件中表示&mDASh;&mDASh;infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/PS.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>PS://www.169zx.com/tag/alibaba.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>阿里巴巴合伙人既是公司的运营者、业务的建设者、infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/PS.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>PS://www.169zx.com/tag/wenhua.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>文化的传承者，同时又是公司股东。

2019年6月，阿里在公布年报时披露，合伙人为38人。这位让阿里陷入舆论旋涡的史上最年轻合伙人该何去何从？大家都在翘首以待。

目前infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/chaxun.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>查询到的infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/PS.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>PS://www.169zx.com/tag/alibaba.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>阿里巴巴（BABA）的主要股东为软银、Altaba 、马云和蔡崇信，分别占股25.9%、9.4%、6.2%、2.2%。

软银和infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/yahu.html target=_blank class=infotextkey>雅虎为infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/PS.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>PS://www.169zx.com/tag/alibaba.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>阿里巴巴的第一、第二大股东，马云持股比例不高，但为什么马云牢牢的掌握了infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/PS.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>PS://www.169zx.com/tag/alibaba.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>阿里巴巴的控制权？

同股不同权

2013年，infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/PS.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>PS://www.169zx.com/tag/alibaba.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>阿里巴巴希望以同股不同权的合伙人制度在infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/xianggang.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>香港上市，但由于港交所不认可合伙人制度，亦不接纳同股不同权机制，infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/PS.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>PS://www.169zx.com/tag/alibaba.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>阿里巴巴赴港上市遭遇碰壁，最终转而到美国上市。

在港媒看来，这是infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/xianggang.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>香港infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/PS.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>PS://www.169zx.com/tag/jinrong.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>金融界的一大遗憾，痛失阿里，也成为港交所酝酿25年来最大改革的导火索。2017年12月15日，港交所正式宣布拓宽现行infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/PS.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>PS://www.169zx.com/tag/shangshigongsi.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>上市公司制度，允许“同股不同权”的公司在infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/zinfotextkey>HUBan.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>主板上市。

什么是同股不同权？

同股不同权为AB股结构，B类股一般由infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/guanli.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>管理层持有，普遍是创始股东及其团队，B类股每股有N票（通常为10票）投票权。A类股一般由外部infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/touzi.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>投资者持有，此股东看好公司前景，因为甘愿牺牲一定表决权作为入股筹码。故在作出重大决策时，infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/guanli.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>管理层可以保证一定控制权

在阿里赴美上市时，就已经和软银、infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/yahu.html target=_blank class=infotextkey>雅虎达成了协议，他们只享有股权分红，但不干涉infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/guanli.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>管理，这就保证了马云手中的控制权、决策权。

合伙人制度

infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/PS.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>PS://www.169zx.com/tag/alibaba.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>阿里巴巴的合伙人制度是一个创举。

“阿里合伙人”是一种特殊身份，并非传统infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/PS.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>PS://www.169zx.com/tag/falǜ.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>法律意义上的“普通合伙人”。

阿里的合伙人身份不等同于股东，虽然阿里要求合伙人必须持有公司一定的股份，但是合伙人要在60岁时退休或在离开infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/PS.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>PS://www.169zx.com/tag/alibaba.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>阿里巴巴时同时退出合伙人（永久合伙人除外），这与只要持有公司股份就能保持股东身份不同。

阿里合伙人制度的infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/sheji.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>设计要点

一、合伙人进入制度

1、为infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/PS.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>PS://www.169zx.com/tag/alibaba.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>阿里巴巴或密切关联公司工作五年以上；

2、必须持有公司股份，且有限售要求；

3、由合伙人委员会决定新增的候选人，经现合伙人一人一票投票，得票超过75%当选。

此外，成为合伙人还要符合两个弹性标准：对公司发展有积极贡献，以及高度认同公司infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/PS.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>PS://www.169zx.com/tag/wenhua.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>文化，愿意为公司使命、愿景和价值观竭尽全力。

二、合伙人退出制度

1、60岁时自动退休；

2、自己随时选择退休；

3、离开infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/PS.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>PS://www.169zx.com/tag/alibaba.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML tinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/AR.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>ARget=_blank class=infotextkey>阿里巴巴工作；

4、死亡或者丧失行为能力；

5、被合伙人infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/hinfotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/ui.html target=_blank class=infotextkey>uiyi.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>会议50%以上投票除名。

值得注意的是，马云和蔡崇信为永久合伙人，将一直作为合伙人直到自己选择退出、死亡或丧失行为能力。

三、合伙人的提名权和任命权

1、合伙人拥有提名董事的权利；

2、合伙人提名的董事占董事会人数一半以上，因任何原因董事会成员中由合伙人提名或任命的董事不足半数时，合伙人有权任命额外的董事以确保其半数以上董事控制权；

3、如果股东不同意选举合伙人提名的董事的，合伙人可以任命新的临时董事，直至下一年度股东大会；

4、如果董事因任何原因离职，合伙人有权任命临时董事以填补空缺，直至下一年度股东大会。

而阿里也已与软银、infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/yahu.html target=_blank class=infotextkey>雅虎达成投票协议，软银和infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/yahu.html target=_blank class=infotextkey>雅虎将在股东大会上为合伙人所提名的董事投赞成票。

四、合伙人的奖金分配权

阿里每年会向包括公司合伙人在内的公司infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/guanli.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>管理层发放奖金，阿里在招股书中强调，该奖金属于税前列支事项。这意味着合伙人的奖金分配权将区别于股东分红权，股东分红是从税后利润中予以分配，而合伙人的奖金分配将作为infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/guanli.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>管理费用处理。

五、合伙人委员会的构成和职权

合伙人委员会共5名委员（包括马云、蔡崇信、陆兆禧、彭蕾和曾鸣）负责：

1、审核新合伙人的提名并安排其选举事宜；

2、推荐并提名董事人选；

3、将薪酬委员会分配给合伙人的年度现金红利分配给非执行职务的合伙人。委员会委员实施差额选举，任期3年，可连选连任。合伙人委员会是阿里合伙人infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/jiagou.html target=_blank class=infotextkey>架构中最核心的部门，把握着合伙人的审核及选举事宜。

如果需要修改阿里合伙人规则，必须获得出席股东大会的股东所持表决权95%以上通过，而马云个人持股6.2%，相当于拥有一票否决权。

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通过阿里的合伙人制度的infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/sheji.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>设计，我们可以看到：

1. 阿里的大事大部分由董事会决定；

2. 超过半数的董事由阿里合伙人决定；

3. 阿里合伙人的进入和退出由合伙人委员会决定；

4. 马云是合伙人委员会成员；

5. 如果要改变阿里合伙人的规则，马云拥有一票否决权。

正是阿里具有这个前瞻性的制度infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/sheji.infotextkey>TPs://www.169zx.com/tag/HTinfotextkey>TPS.html target=_blank class=infotextkey>HTinfotextkey>TPS://www.169zx.com/tag/HTML.html target=_blank class=infotextkey>HTML target=_blank class=infotextkey>设计，作为创始人的马云才有机会在2019年“卸任交棒”，卸任明面上的职务，但他仍是阿里最大的个人股东、董事、永久合伙人、合伙人委员会成员，借助阿里的合伙人制度，马云仍然能掌控整个阿里帝国。

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