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Jack Ma, co-founder of Alibaba and Ant, has resurfaced from public opinion after months, quashing intense speculation about the plight of the billionaire grappling with escalating investigations about his internet empire.
China’s most recognizable entrepreneur addressed dozens of teachers on Wednesday at an online conference, part of an annual event the billionaire hosts to recognize the achievements of rural educators. His appearance, first mentioned in a local blog, was confirmed by people familiar with the matter.
Ma’s resurgence may help quell persistent rumors of his fate as Beijing investigates online financial titan Ant Group Co. and Alibaba Group Holding Ltd. The executive had been hiding from the public eye since early November, when Chinese regulators torpedoed Ant’s $ 35 billion IPO, tightened fintech regulations, then ordered a review of Ant and launched a separate antitrust investigation into Alibaba – all in one. timeframe. days.
The attack on Ma’s billion-dollar business empire includes a broader campaign to rein in a generation of Chinese technology giants that Beijing now sees as having too much control over the world’s second economy. The accumulation of actions against its twin companies has shown that Beijing has lost patience with the extraordinary power of its technology magnates, who are now seen as a threat to the political and financial stability most praised by President Xi Jinping.
Read more: Jack Ma becomes silent after Ant Group’s spectacular demise