Chinese Billionaire Jack Ma’s reappearance added $60 billion to Alibaba’s capital market in a Single Day

Jack Ma

The founder of China’s e-commerce and fintech behemoths, Alibaba and Ant Group Jack Ma is back. Ma made a virtual appearance at a charity event. A video of that event was made public by Tianmu of Ma sitting Infront of a camera for attending conference. He looked passionate, motivational and calm, yet serious in that video. He addressed 100 village teachers at an online conference on Jan 20. The conference is part of an annual event hosted since 2015 by the tech mogul, a former teacher himself, to reward the contributions made by educators working in rural areas. While the event usually sees Ma give out awards in person, this year’s event was held online due to the pandemic, according to Tianmu. Jack Ma’s reappearance rise his stocks by

Source of the news

China’s second richest man who prior to September was the richest man of China and the founder of Alibaba, Jack Ma was missing since 24th October 2020.  Since then, he hasn’t been found on any social media sites or seen in public anywhere. What is socking is that allegedly prior to his disappearance, he criticized one of the policies of the Chinese communist party.

Jack Ma

In most democratic countries, often politicians and government are accused of being puppets in the hands of big capitalists and billionaire but this wasn’t the case for China. This turns opposite for dictatorship countries like China. Here big billionaires are the puppets in the hand of the government. Ma criticized to the Xi Jinping government and did a small mistake. He didn’t even criticise the entire government but rather just a specific aspect; the government’s financial regulatory system.

So, what happened after his statement?

Just one week after 24th October, the Chinese government changed their rules itself. According to the new rules and regulation, Ant Group an affiliate company of the Chinese Alibaba Group which was going to release the Ant’s $37 billion IPO was disqualified for the Initial Public Offering (IPO).

Banned

Right after this, the top watchdog of the Chinese government said that the Alibaba Company is not following the anti-competition practices. They launched their investigation on Alibaba saying Alibaba is not following anti-monopoly rules and is violating them.

Right after this, the top watchdog of the Chinese government said that the Alibaba Company is not following the anti-competition practices. They launched their investigation on Alibaba saying Alibaba is not following anti-monopoly rules and is violating them.

Ma disappearance make Alibaba shares goes down during December worrying his investors. This fall made Alibaba a huge loss in his shares as shown in the chart.

Market Down

On Wednesday Jan 20, after Jack Ma’s reappearance investors appeared to be greatly reassured, and the stock was up around 9% in trading in Hong Kong. It eventually closed up 8.5%, adding around $60 billion to the e-commerce firm’s value.

Market Up

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