banner
Billionaire Jack Ma reappears but Ant’s IPO remains suspended
Billionaire Jack Ma reappears but Ant’s IPO remains suspended
Fintech

Billionaire Jack Ma reappears but Ant’s IPO remains suspended

By Stefania Stimolo - 20 Jan 2021

Chevron down

Three months after his disappearance, the famous billionaire entrepreneur Jack Ma, CEO of Alibaba, has finally reappeared on the web today, with a live-streamed video dedicated to a group of teachers.

Apparently, the video went so viral that it immediately made the shares of Alibaba Group Holding LTD soaring, but above all, it also brought a sigh of relief to all of Ma’s followers who were worried about his fate.

The disappearance of the Chinese entrepreneur occurred immediately after his announcement on 24 October 2020 concerning the launch of the biggest IPO ever on the stock exchange, namely that of Ant, the financial giant of the Chinese group Alibaba, founded precisely by Jack Ma.

According to reports, today’s video showing Ma was broadcast during an annual event dedicated to rural teachers, in which China’s most famous entrepreneur is seen as touring a primary school in his hometown of Hangzhou.

No mention, therefore, of the clashes with Beijing and the manoeuvres adopted by President Xi Jinping, who in recent months has stirred up the waters within the Alibaba group. There was also no mention of Ant’s IPO.

The video in which Jack Ma reappears and the euphoric market response 

In Ma’s video dedicated to teachers, his tone and comments follow a thread that espouses themes also appreciated by the ruling Communist Party.¬†

Without wanting to touch on fintech controversies, the entrepreneur mostly talked about the importance of revitalising the Chinese countryside and reducing income inequality, encouraging young talent to return to rural areas.

Not only that, here are some of the words Ma said during the event:

“Recently, my colleagues and I have been studying and reflecting. We made a firmer resolution to devote ourselves to the philanthropy of education […] Working hard for rural revitalisation and common prosperity is the responsibility of our generation of businessmen”.

Despite this choice by the entrepreneur to re-emerge with speeches not about his shaky situation with the Chinese authorities, it gave the public a moment of complete confidence and euphoria. 

Indeed, shares in Alibaba, the e-commerce giant co-founded by Ma that owns about a third of Ant, rose 8.5% in Hong Kong and were up almost as much in US premarket trading.

Stefania Stimolo
Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.