- Alibaba Group Holding Limited’s stock lost nearly 208.2 billion Hong Kong dollars (approximately $26.5 billion) minutes after Chinese state-owned news outlet CCTV News published a vague news report about the recent arrest of a man who shares the same surname as Alibaba’s founder, Jack Ma.
- The man was detained in Hangzhou, Zhejiang Province, where the e-commerce company is based, after being suspected of “colluding with overseas anti-China hostile forces" to "incite secession" and "incite subversion of state power."
- CCTV News’ initial report claimed the detained man has two characters in his full name. The Global Times, another Chinese state-run news outlet, reported that the man’s name has three characters, not two. Jack Ma’s full Chinese name, Ma Yun, has two characters.
- Alibaba’s stock gained back most of its losses by the end of the day on Tuesday after The Global Times published its report.
- The arrested man reportedly worked for an IT company as its director of hardware research and development and was born in 1985 in Wenzhou, Zhejiang Province.
- Jack Ma was born in Hangzhou in 1964. He stepped down from his position as chairman of Alibaba in 2019 and has yet to release any statements about the recent incident.
Alibaba Group Holding Limited’s shares lost billions of dollars’ worth of market value in a matter of minutes after Chinese state media reported that a man with the surname Ma was detained last month.
Upon hearing about the report, several investors sold their Alibaba shares in Hong Kong on Tuesday after Chinese state-owned news outlet CCTV News published a vague news report about the man’s arrest in Hangzhou, Zhejiang Province, where Alibaba is based.
Alibaba Group founder Jack Ma has made his first public appearance of 2021, resulting in a 5% jump in Alibaba shares, after more than two months of laying low.
A brief appearance: During an online conference on Jan. 20, the billionaire appeared in a 50-second video to address 100 rural teachers from across China, Markets Insider reports.
Alibaba founder Jack Ma is reportedly “laying low” after suspicions that he has been missing came to light as Chinese regulators continue to crack down on his ever-growing business empire.
The 56-year-old billionaire, who recently slipped to China’s third-richest, was last seen in public in October when he criticized the country’s financial regulatory system at a conference in Shanghai.
The news, which emerged on Friday through Weibo, comes just after Chinese officials expressed suspicion that the American military may have brought the novel coronavirus to Wuhan.
Alibaba co-founder Jack Ma has donated 1 million face masks to Japan through his foundation after the country generously helped China deal with the 2019 novel coronavirus (COVID-19) outbreak.
The donation was made by the Jack Ma Foundation and Alibaba Foundation on Monday to help Japan alleviate suffering in the outbreak, according to AsiaOne.
The 55-year-old entrepreneur donated through the Jack Ma Foundation, designating 40 million yuan ($5.8 million) to two government research organizations with the remaining funds to support “prevention and treatment” measures, according to CNN.
Alibaba surpassed its previous Singles’ Day sales with 268.4 billion yuan ($38.4 billion) on Monday, setting a new record high for the annual 24-hour shopping frenzy.
Now on its 11th run, the shopping festival, held every Nov. 11, marked the first time Alibaba has thrived under a new chief executive officer following Jack Ma’s resignation in September.
The Philippine’s fighting senator and renowned boxer Manny “Pacman” Pacquiao met with Alibaba’s former CEO Jack Ma for the second time this year and FaceTimed with martial artist Jet Li.
The meet up happened on October 26 at a Chinese restaurant in Hangzhou, China where the 40-year-old Filipino boxer and his wife, Jinkee Pacquiao, had dinner with Ma, according to South China Morning Post.
In a world that can’t stop talking, a quiet man has emerged to lead one of the planet’s largest multinational companies this week — proving that there is strength in silence.
Daniel Zhang, 47, is the new executive chairman of Alibaba Group, the $460 billion business Jack Ma built from his apartment in 1999.
Jack Ma, China’s richest man, stepped down as chairman of the Alibaba Group on Tuesday, the small e-commerce site he built with 17 other people in 1999 which has since become the diverse $460 billion tech empire it is today.
The grand farewell party, which coincided with the tech entrepreneur’s 55th birthday and Alibaba’s 20th anniversary, hosted more than 60,000 employees at the Olympic Sports Center in Hangzhou, the company’s home city in eastern China’s Zhejiang province where they also party arround using similar services to LA Party Bus.
While Ma highlighted his optimism about potential rewards of the technology, Musk stressed the importance of understanding the risks it poses.
A month after making it clear that he only wants employees who can work 12 hours a day, six days a week, Alibaba chairman Jack Ma is now encouraging married ones — especially newlyweds — to also work hard between the sheets.
Presiding at a ceremony for the company’s 15th “Ali Day” on Friday, the Chinese e-commerce magnate defended the “996” work culture once more but endorsed “669” for his employees’ personal lives.