Alibaba Founder Jack Ma Appears at Global Math Competition, Generates Buzz

Alibaba Group Holding founder Jack Ma made a rare public appearance on Saturday (June 17) in Hangzhou, China, where he spoke with the winners of the annual international mathematics competition run by Alibaba's internal research division.

Jack Ma had the chance to interact with the attendees at the event in the eastern Chinese city days after an Alibaba top executive assured the public that the tech mogul is "alive," according to an HNGN report.

According to the company's Damo Academy, the billionaire entrepreneur spoke about "understanding of mathematics" with the 2023 Alibaba Global Mathematics Competition finalists at the occasion, SCMP reported.

In March, the 58-year-old Jack Ma visited a nearby school that gets joint support from Alibaba's partners. This is his second appearance in Hangzhou this year.

Since Jack Ma went under the radar in 2021 due to Chinese government action to block Ant Group's initial public offering, Alibaba's fintech unit, his movements have been constantly scrutinized. Ma made a contentious speech in Shanghai in October 2020, criticizing state-owned Chinese banks for having a "pawnshop mentality."

Jack Ma is 'Alive'

Alibaba President Michael Evans assured worries over Ma's health at the VivaTech conference in Paris that Ma is "alive," "happy," and actively engaged in several activities, according to CNBC.

Ma is reportedly spending more time in China and lecturing at a university in Tokyo, according to Evans. This declaration is made amid rumors about Ma's actions and the regulatory crackdown on Alibaba and its affiliates.

The investigation against Ma and his businesses started in November 2020, when Ant Group's planned IPO, which would have been the biggest ever, was postponed due to regulatory pressure. Since then, Alibaba has had to pay a $2.8 billion antitrust penalty, and the Chinese government has tightened regulations for the technology industry. Ma was not seen then, leading to rumors regarding his whereabouts.

Alibaba Founder To Give Up Company Leadership

However, Ma's recent appearances in China and Europe have stirred debates about a possible relaxation of regulatory pressure on Beijing's IT industry. Ma remains Alibaba's top shareholder while maintaining a quiet profile, showing his dedication to the business.

The most recent event was the news that Jack Ma would give up leadership of Ant Group as part of a restructuring meant to address the regulatory problems brought on by the canceled IPO, per Reuters.

Even if the modifications would reinvigorate Ant's prospects for an IPO, Chinese listing restrictions might cause more delays. The changes announced would result in Ma's voting rights at Ant dropping from over 50 percent to 6.2 percent.