Baidu released an announcement on the proposed reduction of holdings by its related parties, showing that Ma Dongmin, the wife of Baidu founder, chairman and CEO Robin Li, reduced her holdings of Baidu by 260,000 shares on July 1, 2024, cashing in approximately US$22.41 million.

Ma Dongmin sold off Baidu shares several times last year, cashing out about 210 million yuan. After selling off shares several times last year, Ma Dongmin's shareholding ratio has dropped to 3.2%.

Currently, Baidu founder Robin Li holds about 18.2% of the shares and has 59.3% of the voting rights, making him the largest shareholder and actual controller of Baidu.