Jack is back – and investors are relieved.
The share price of Chinese e-commerce giant Alibaba rose on Wednesday after billionaire founder Jack Ma made his first public appearance in almost three months.
Alibaba’s U.S.-listed shares rose 6.8 percent in premarket trading to $ 268.81 starting at 7:03 a.m. after Ma reappeared at an online ceremony the charity organized for rural teachers , raising his concern about his long silence.
The tech-savvy English teacher spoke from a room adorned with floral arrangements and a large painting in a 50-second video that also included pictures of Ma visiting a school in Tonglu County, China last week. past.
Before the short clip, Ma had not been seen in public since giving a speech on October 24 overthrowing China’s regulatory system. This apparently angered Chinese officials, who stopped the initial public offering of Ma’s digital payment company, Ant Group, the following month.
Ma’s unusual absence sparked speculation earlier this month that she had disappeared – especially after she apparently did not appear in the final episode of “Africa’s Business Heroes”, an “Apprentice” TV show she created. a.
But Duncan Clark, a Chinese technology investor and advisor who has known Ma for decades, recently told NPR that Ma “was just told to come down.”
Ma, 56, is the fourth richest man in China, with a total fortune of about $ 53 billion, according to the Bloomberg Billionaires Index. Its net worth has fallen by about $ 8 billion since the day of his fateful October speech.
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