Jack Ma emerges for first time since Ant, Alibaba crackdown


Jack Ma had kept out of public view since early November, when Chinese regulators torpedoed Ant's US$35 billion IPO. - Reuters

BEIJING (Bloomberg): Jack Ma has resurfaced after months out of public view that fuelled intense speculation about the plight of the billionaire grappling with escalating scrutiny over his internet empire.

China’s most recognisable entrepreneur addressed teachers via livestream Wednesday (Jan 20) during an annual event he hosts to recognise rural educators, according to people familiar with matter.

In a video of the event circulated online, Ma talked about how he’ll spend more time on philanthropy.

The co-founder of Alibaba and Ant didn’t mention his recent run-ins with Beijing during his address, which was first reported in a local blog. Ant confirmed the authenticity of the video in an email.

Alibaba’s shares gained more than 4% in Hong Kong. While it’s still unclear where Ma is, his emergence in a public forum may help quell persistent rumours about his fate while Beijing pursues investigations into online finance titan Ant Group Co. and Alibaba Group Holding Ltd.

The executive had kept out of public view since early November, when Chinese regulators torpedoed Ant’s US$35 billion IPO, tightened fintech regulations, then ordered an overhaul of Ant and launched a separate antitrust probe into Alibaba -- all in a span of days.

"Recently, my colleagues and I have been studying and thinking. We made a firmer resolution to devote ourselves to education philanthropy, ” Ma said in the video.

"Working hard for rural revitalisation and common prosperity is the responsibility for our generation of businessmen, ” Ma added.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

China , Jack Ma , Ant , Alibaba , reappearance

   

Did you find this article insightful?

Yes
No

92% readers found this article insightful

Next In Aseanplus News

Asean News Headlines as at 7pm on Sunday (March 7)
Swiss to back Indonesia trade deal and ban on face-veils
China says hopes US will remove 'unreasonable' curbs on cooperation
China says willing to engage with all parties to ease Myanmar situation
China: Zhong Nanshan, Chen Wei embark on new type of vaccine R&D
Indonesia claims success for lowest deforestation rate in 5 years as Covid-19 cases are still rising and goes above 1.379 million
New Covid-19 cases in Philippines breach 3,000-mark for 3rd straight day; 594,412 in total
Thailand mulls Covid-19 vaccine passports to boost tourism sector; 65 Covid-19 cases on Sunday (March 7)
Singapore students still without TraceTogether tokens to receive them by end of March; 13 imported Covid-19 cases on Sunday (March 7)
Covid-19: 1,683 new cases, three deaths bring death toll to 1,169

Stories You'll Enjoy


Vouchers