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Alibaba and Ant co-founder Jack Ma has reappeared months out of public view, dismissing intense speculation about the billionaire’s plight in the wake of an ongoing investigation. growing exponentially over his internet empire.
China’s best-known entrepreneur addressed scores of teachers at an online conference on Wednesday, part of an annual event hosted by the billionaire to recognize the achievements of rural educators. His appearance, first reported in a local blog, was confirmed by people familiar with the matter.
Ma’s reappearance may help dispel persistent rumors about his situation as Beijing pursues investigations into online financial titan Ant Group and Alibaba Group Holding Ltd. The executive team had been out of the public eye since early November, when Chinese regulators torpedoed a $ 35 billion IPO Ant, tightening fintech rules, then ordered the renewal of Ant and installed a separate antitrust probe into Alibaba – all in a matter of days.
The invasion of the trillion-dollar Ma corporate empire involves a broader campaign to bring back a generation of Chinese tech giants that Beijing now sees as over-controlling the world’s No. 2 economy. The shift of actions against its twin home companies as Beijing has lost patience with the massive power of its tech moguls, which is now seen as a threat to President Xi’s political and financial stability Jinping delivers the majority.
Read more: Jack Ma goes quietly after the amazing show at Ant Group