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Alibaba s Shares Surge As Jack Ma Reappears Ma one of Asia s richest people with a fortune estimated at around $58 billion disappeared from the public eye after he was hauled in front of regulators for an October speech critical of China s financial system.
Updated: January 20, 2021 2:35 pm IST
Shares in internet giant Alibaba soared more than 8 per cent Wednesday after billionaire founder Jack Ma made his first public appearance since November, ending weeks of speculation about his whereabouts after the company took a kicking from Chinese regulators.
Ma one of Asia s richest people with a fortune estimated at around $58 billion disappeared from the public eye after he was hauled in front of regulators for an October speech critical of China s financial system.
Alibaba founder Jack Ma reportedly chats with 100 rural teachers in China via a video meeting, making his first public appearance since the businessman mysteriously went to ground in October.
Jack Ma, worth £42billion, re-emerged today in a video speech on state media
Ma praised China s poverty alleviation efforts and vowed to help rural teachers
The tycoon vanished in November after criticising state banks and regulators
Beijing then spiked an IPO of his group and launched an anti-monopoly probe
Alibaba s shares surged on Wednesday following billionaire Ma s appearance