Jack Ma has finally been seen live and alive after disappearing for a lot of months from the public’s eyes. He was seen attending a video conference. His disappearance fuelled a lot of intense questions about the difficulty of the billionaire struggle with soar scrutiny over his internet empire.
The face of New China, the utmost notable entrepreneur, Jack Ma, sermonized the teachers through a livestream on Wednesday during an annual event that he hosts to acknowledge the rural educators, as per the people familiar with the affair. In a video circulated online of this particular event, Ma shared how he will be spending more time on philanthropy.
Ma, the co-maker of Alibaba and Ant, didn’t comment upon his recent run-ins with Beijing during his monologue, which was first covered in a local blog. The authenticity of the video has been confirmed by Ant in an email.
This appearance video helped in a spike of Alibaba’s shares by more than 4% in Hong Kong. Even though it is still unclear where exactly Jack Ma is, his comeback in the public via video might help in settling the continuous rumors that are floating about his destiny.
Beijing is still going after investigations into Ant Group Co. and Alibaba Group Holding Ltd. Jack Ma has been out of public sight since early November, when Chinese regulators destroyed Ant’s $35 billion IPO, firmed fintech regulations, and afterwards ordered a renewal of Ant and established a separate antitrust inquiry into Alibaba, all in just a few days’ time.
— Qingqing_Chen (@qingqingparis) January 20, 2021
In the video, Ma said that he has been thinking and studying with his colleague and has decided to devote more time to education philanthropy. He also added that working for rural betterment and common prosperity is the responsibility of his generation of businessmen.
The attack on Jack Ma’s empire points to a start of regaining the position of Chinese government as well as the political and financial stability of President Xi Jinping by looking into the other tech giants that Beijing now see as taking too much control over the world’s second largest economy.
Currently, Jack Ma’s standing with Beijing remains clouded. Allegedly, in the beginning of December, the man identified with the gradual growth of China Inc. was advised by the government to stay in the country. Discussions about his whereabouts emerged because Beijing has in the past quietly detained billionaires that have conflicted the law, without immediate trial.