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Billionaire Jack Ma in 2019. Photo: Bloomberg. |
According to Bloomberg news, the founder of Alibaba Group a few days ago landed in Hong Kong to attend a number of meetings with CEOs in the technology and financial sectors.
This is part of Jack Ma’s series of global activities in recent months. This development is in stark contrast to the billionaire’s “disappearance” over the years, when he became the focus of the Chinese government’s control of the technology world.
The Hong Kong Economic Times, citing anonymous sources, said the billionaire had many important meetings. Therefore, although Jack Ma arrived in Hong Kong a few days ago, his activities have always been kept under wraps.
Since the end of 2022, Jack Ma has begun to “fly” around the world just like a few years ago – when he was still China’s most popular billionaire. Previously, many sources said that Jack Ma chose to live quietly in a rural area on the outskirts of Tokyo (Japan). Later, the media discovered that he had come to Thailand and participated in activities such as enjoying food or going to a Muay Thai match. He also visited the US and Israel in November 2022, according to the Financial Times.
Jack Ma’s re-appearance comes at a time when Chinese authorities are loosening controls in the technology sector – which once plagued China’s internet giants. This month, the billionaire also ceded control of his empire, prompting many investors to hope the worst is over.
In the trading session of January 20, Alibaba shares rose sharply by 3.4% in response to this positive information.
Before that, Jack Ma almost disappeared from public view after a speech criticizing Chinese regulators in 2020. Soon after, Ant Group’s billion-dollar IPO was suspended. A series of investigations aimed at Alibaba in particular and the Chinese technology world in general have also been activated.