Jack Ma makes first public reappearance in three months, Alibaba stocks soar
January 20, 2021, 11:54 am

Jack Ma makes first public reappearance in three months, Alibaba stocks soar

Founder of Alibaba group Jack Ma. (File photo: AP)

Alibaba Group founder Jack Ma made his first appearance since October on Wednesday when he spoke to a group of teachers by video, easing concern about his unusual absence from public life and sending shares in the e-commerce giant surging.

Speculation over Ma's whereabouts has swirled in the wake of news this month that he was replaced in the final episode of a reality TV show he had been a judge on, and amid a regulatory clampdown by Beijing on his sprawling business empire.

The billionaire, who commands a cult-like reverence in China, had not appeared in public since October 24, when he blasted China's regulatory system in a speech at a Shanghai forum. That set him on a collision course with officials and led to the suspension of a blockbuster $37 billion IPO for Alibaba's financial affiliate Ant Group.

Alibaba and his charitable foundation both confirmed he participated in an online ceremony for an annual event for rural teachers on Wednesday.

In the 50-second video, Ma, wearing a navy pullover, spoke from a room with grey walls, a large painting and floral arrangements. It was not clear where the room was.

Alibaba's Hong Kong-listed shares jumped over 10% on the news, which was first reported by Tianmu News, a media outlet backed by the government of Zhejiang, the province where Alibaba's headquarters are based.

A screen shows a video of Jack Ma addressing teachers via livestream at an annual event. (Bloomberg)

"Jack Ma's reappearance has given investors peace of mind after a lot of rumors, allowing them to pile into the stock which had been a laggard in the market," said Steven Leung, sales director at brokerage UOB Kay Hian in Hong Kong.

The topic "Jack Ma makes his first public appearance" and his video address to the teachers soon began trending on China's Twitter-like Weibo, triggering heavy discussion.

Although Ma has stepped down from corporate positions and earnings calls, he retains significant influence over Alibaba and Ant and promotes them globally at business and political events. He also continues to mentor management talent in the "Alibaba Partnership", a 35-member group of company managers.

China has stepped up a regulatory crackdown on anticompetitive behavior in the internet sector and Alibaba became the target of an antitrust investigation launched last month by Chinese authorities.

The company plans to raise at least $5 billion through the sale of a U.S. dollar-denominated bond this month.

source: Reuters

Image source: AP

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”