Topline
Jack Ma, co-founder of Ant Group and Alibaba, reportedly met with business associates from Hong Kong over the past few days. This comes at a time in which the Chinese billionaire has largely maintained a low profile since Beijing's crackdown on his business empire last January.
Jack Ma, the founder of Alibaba, has been largely hidden from public view since Beijing's regulatory crackdown last year on his business empire. Getty Images
The Key Facts
Ma was in Hong Kong, where Alibaba is listed for the first time since October last year, and he met a few business partners over meals last week. Reuters reported that Ma also visited unnamed sources. Since last year's speech in Shanghai in which he criticised China's financial regulators, Ma has kept a low profile. Ma had only made a few low-key visits to mainland China before his Hong Kong visit. He spoke with teachers in China in January, and visited Alibaba's Hangzhou campus last May.
Big Number
$41 Billion. Forbes estimates that Mas's current net worth is $41 Billion. Forbes China Rich List 2020 topped him and he ranked 17th in the global Billionaires List 2020.
Important Background
After Chinese regulators shut down Ant Groups' $35 billion IPO, Ma briefly vanished from public view. Beijing tightened fintech regulations, and launched an antitrust investigation against Alibaba's Mas e-commerce giant. Ma was removed as judge for Africa's Business Heroes, a television program funded by the Chinese billionaire. This led to speculation and rumors about his whereabouts. Ma made his first public appearance in January following the crackdown during a video conference that he hosted to honor China's rural teachers. Ma visited Alibaba's Hangzhou campus in May during the annual Ali Day celebration for employees and their families. Chinese social media platforms shared photos of Ma visiting Zhejiang's agricultural greenhouses.
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Sources (Reuters): Jack Ma, billionaire founder of Alibaba, appears in Hong Kong
