ALibaba and Ant co-founder Jack Ma has resurfaced after months out of public view, quashing intense speculation about the billionaire’s fate as he grapples with increasingly scrutiny of his internet empire.
China’s best-known entrepreneur addressed dozens of teachers at an online conference Wednesday, as part of an annual event the billionaire hosts to recognize the achievements of rural educators. His appearance, first reported in a local blog, has been confirmed by people familiar with the matter.
Read more: Where is Alibaba founder Jack Ma? What the saga of one of the world’s richest men reveals about China under Xi Jinping
Ma’s re-emergence could help quell lingering rumors about her fate as Beijing continues investigations into online finance titan Ant Group and Alibaba Group Holding. The executive had been out of public view since early November, when Chinese regulators torpedoed Ant’s $ 35 billion IPO, tightened fintech regulation, then ordered an overhaul and launched an investigation. separate antitrust on Alibaba – all within days.
Ma’s assault on the trillion-dollar corporate empire sums up a broader campaign to curb a generation of Chinese tech giants that Beijing now sees as exercising too much control over the world’s No.2 economy. The wave of actions against its sister companies has shown how Beijing has lost patience with the inordinate power of its tech moguls, now seen as a threat to political and financial stability President Xi Jinping bestows the most.
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