Jack Ma re-entered the chat. PHOTO: STRINGER / AFP
Jack Ma has emerged from the public eye for the first time since Chinese regulators halted a massive IPO by Alibaba subsidiary Ant Group, prompting a stock market rally that added $2 billion to his personal wealth.
The billionaire gave an online speech to rural teachers on Wednesday as part of a charity program run by his philanthropy group, the Alibaba Foundation. The message was published by Tianmu Newsa state-owned media company in Hangzhou, Zhejiang province, where Alibaba’s headquarters are located.
The speech ended Ma’s three-month absence, which has fueled speculation about the future of his e-commerce empire, and prompted Hong Kong’s Alibaba share price to surge 6 percent when markets closed on Wednesday.
Ma, who owns 4.8 percent of the company, achieved a share value of $1.96 billion.
In a 50 second video posted by Tianmu NewsMa, wearing a navy blue sweater and holding a pen, congratulated 100 rural teachers on their annual award, which is named after Ma herself, and vowed to contribute more to rural development.
“These days, I’ve been studying and reflecting along with my peers,” Ma said in the video call with the teachers. “We’ve built a stronger belief in devoting ourselves to community education.”
Ma said he would like to meet the teachers in person after the COVID-19 epidemic ends.
The video stands in sharp contrast to Ma’s last public appearance in late October, when he criticized Chinese financial regulators for stifling innovation. The speech was thought to have been a trigger for the subsequent crackdown on Alibaba, which caused the company’s valuation to plummet and at one point wiped out around $12 billion of Ma’s fortune.
Known for his love of the limelight, Ma has given speeches, attended charity events and even appeared on entertainment shows. But he disappeared from public view after Chinese regulators suspended Ant’s IPO and subjected Alibaba to an antitrust investigation.
Ma’s silence prompted questions about the billionaire’s personal safety and whether his business empire, a symbol of China’s economic boom over the past four decades, would continue to enjoy the support of the ruling Communist Party.
Ma’s first public engagement in months focused on his philanthropic work. The video released on Wednesday also included a scene showing the billionaire touring an elementary school in Zhejiang on Jan. 10.
In the speech, Ma pledged to support rural education and work towards the prosperity of rural China. “I think that’s the duty and commitment of our generation’s entrepreneurs,” he said.
Behind him were a vase of flowers, a book titled “Art History of the World,” and a painting of China’s peaceful countryside.
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