Saturday, July 13

Jack Ma Affirms Confidence in Alibaba Amid Share Sell-Off Plans

Jack Ma’s office has issued a statement expressing his continued optimism and confidence in Alibaba, emphasising that he remains a major shareholder through his family trust.

The assurance comes after units of Ma’s JSP Investment and JC Properties filed plans to sell $870 million in Alibaba shares, prompting a sell-off in the company’s stock.

The phased sale, scheduled to start on November 21, is part of a long-term plan adopted in August, and Ma’s office clarified that no shares have been sold yet.

Alibaba’s recent decision to halt the full spin-off of its cloud computing unit also impacted its stock price.

Ma, who retired as Alibaba’s chairman in 2019, has been actively engaged in philanthropy, education, and various personal projects during his retirement.

In addition to maintaining his involvement in educational initiatives, he holds honorary professorships at the University of Hong Kong and the University of Tokyo.

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