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Chinese tycoon Jack Ma makes first appearance in three months following rumours he had been ‘disappeared’ by the Communist party leadership
Chinese tycoon Jack Ma has made his first public appearance in three months – sending shares in his company Alibaba soaring amid relief he is still ‘alive and kicking’.
The 56-year-old, who was previously China’s richest person, disappeared from public view in October after criticising regulators’ approach towards financial technology firms.
But he resurfaced yesterday in a video to thank teachers for their work and praise rural education.
‘Alive and kicking’: Chinese tycoon Jack Ma has made his first public appearance in three months – sending shares in his company Alibaba soaring
That sent Alibaba shares up 8.5 per cent, adding £1.5billion to Ma’s fortune.
Disappearances of businessmen who have annoyed the Communist party have often been followed by arrests, prosecutions or TV confessions.
Days after Ma enraged officials, his payments company, Ant Group, abandoned its float, a decision said to have been sanctioned by Xi Jinping, the Chinese premier.
There were fears that Alibaba could be nationalised, Ma could be jailed or even disappear.
Singapore analyst Ke Yan said none of these scenarios was now likely. ‘It’s a good signal that Jack is still alive and kicking,’ he told the Financial Times.
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