Jack Ma stepped away from public view in 2020 after criticizing Chinese authorities.
Jack Ma stepped away from public view in 2020 after criticizing Chinese authorities.Stephane Mahe/Reuters
  • Jack Ma was seen in Thailand on Friday.

  • Hours before Ma gave up control of the company, a picture of him was posted on the internet.

  • Ma criticized Chinese regulations, which led to the abandonment of a blockbuster float by the Ant Group.

Hours before the company's controlling shareholder said he would give up control, Jack Ma reappeared in Thailand.

We are honored to welcome you and your family to Jay Fai's.

Hours before The Wall Street Journal reported that Ma was about to give up control of the company, the post was published.

Ma was with the chair of the Charoen Pokphand Group.

Ma posed in a fighting stance for a picture with Banchamek at a Muay Thai fight on Thursday.

The company that owns the world's largest mobile-payment platform, Alipay, is streamlining voting rights in order to prevent one shareholder from having a controlling vote, according to a statement published Saturday.

According to the statement, the move would enhance the stability of our corporate structure.

Ma was out of the public eye in October 2020 after giving a speech.

The company was going to list on the stock market, but Beijing stopped it. Ma's net worth has fallen by more than $25 billion since he left the public eye.

Ma has control over a separate entity that he did not have an executive role in. The changes announced on Saturday are the most recent in a series of changes.

Since his arrest, Ma has kept a low profile. He had been living in Tokyo for six months and was staying out of the public eye.

Some think the move could revive hopes of floating Ant, but Chinese regulations that need a pause on listings following a change in control may delay such a move by at least a year.

Business Insider has an article on it.