Business

Jack Ma reappeared after two months of public absence, and Alibaba shares rose 10%

The online business mogul and guru attended a virtual meeting, his first public appearance since October 2020, when his whereabouts became unknown.

4 min read


Jack Ma reappeared after two months of public absence, and Alibaba shares rose 10%
Jack Ma reappeared after two months of public absence, and Alibaba shares rose 10%

Chinese businessman Jack Ma, Founder of the online retail giant Alibaba Group, reappeared briefly through a virtual meeting with rural teachers. This diminished uncertainty about his whereabouts and speculation about his alleged disappearance, and resulted in one 10% more in your company’s inventory.

At the beginning of January an alarm was raised as to where the billionaire was. The tycoon was expelled as a judge in the final of the competition “Africa’s Business Heroes”, a philanthropic project of Jack Ma Foundation. He was even banned from the promotional video and his photo was removed from the show’s portal.

Alibaba declared such absence to be an agenda conflict, but many remembered it He has not been seen publicly since October 2020. Ma, one of the richest men in Chinacriticized his country’s banking system during an event in Shanghai. Since then, the Chinese government has been more aware of its business than ever.

The long-awaited reappearance of Jack Ma

Local media Tianmu News, backed by the Zhejiang Province government, reported that Ma participated in a video conference with 100 teachers as part of an initiative by his charitable foundation.

The video shows the retired CEO of Alibaba in a blue sweater speaking on camera. Neither Ma’s words nor the marble-walled room and gray carpet she was in give any clues as to where she was.

In his speech, the charismatic businessman pointed out that this event takes place in person every year in a town in southern Hainan. But this year “We cannot meet in Sanya because of the epidemic”Said Ma.

“When the epidemic ends, we will have to find time to make up for this lost journey. We’ll meet Again!”added the digital commerce guru.

Then, Jack Ma commented that his plan is to spend more time on philanthropy as well “Work hard for rural revitalization and common prosperity”, consider that “It is the responsibility of our generation of entrepreneurs”.

Jack Ma made no mention of his recent friction with the Chinese government during his speech.

A break for Alibaba stock

The disappearance of Jack Ma Public life, as well as government measures to regulate its businesses, resulted in a decline in Alibaba’s market value and a loss of more than $ 11 billion in the tycoon’s wealth.

After Ma’s public return, the Alibaba stocks by doing Hong Kong Stock Exchange According to Reuters, they increased by more than 10%.

“The reappearance of Jack Ma has reassured investors after many rumors and allowed them to accumulate stocks that had lagged the market.”said Steven Leung, director of sales at UOB Kay Hian investment bank.

Similar Posts