Mysterious Ma: Billionaire Alibaba founder spotted in Spain
October 20, 2021 at 11:41 am EDT
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The billionaire co-founder of Alibaba, Jack Ma, has been spotted in Spain in reportedly his first trip abroad since he butt heads with hawkish Chinese regulators.
The reports of Ma being alive and well, and seemingly not banned from leaving China, triggered Alibaba’s Hong Kong-listed shares to jump 6.7 per cent on Wednesday – their highest closing level in two months, according to FactSet.
It is the first time Ma has left China or Hong Kong since the regulatory crackdown quashed the plans for Ant Group to go public last year, according to the Wall Street Journal, citing people familiar with the matter.
Ma is expected to jet off to other European countries, sources say, to attend a string of business meetings, ‘taste wines’ and ‘see friends’, the sources added.
Though the billionaire’s schedule is fluid, he is reportedly expected to return to China next month.
The trip was reported first by the Alibaba-owned South China Morning Post.
City A.M. has contacted the Alibaba Group for comment.
The post Mysterious Ma: Billionaire Alibaba founder spotted in Spain appeared first on CityAM.
Alibaba Group Holding Limited is the leading online Chinese marketplace. The group provides computing platform allowing individuals and professionals to make their buying and selling transactions of goods and services. The activity is organized around 3 areas:
- operation of e-commerce platform: Websites holding (Alibaba.com, Taobao.com, Tmall.com, Juhuasuan.com, Aliexpress.com, 1688.com, etc.);
- online payment services: services ensured through the Alipay.com platform;
- other: development of price comparison, interface and Web application portals, dematerialized management platforms of computing infrastructure, etc.