Jack Ma news and archive

Alibaba shares soar after Jack Ma reported on European trip

Alibaba shares surged more than six percent on Wednesday after billionaire founder Jack Ma was reported to be in Europe, fuelling investor hopes that the worst of China's regulatory crackdown for the internet giant might be over. Ma has kept a low profile ever since mainland officials spiked what would have been a world record 37 billion dollars...

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Business

China hits Alibaba with record 2.78 billion dollars for market abuses

Shanghai - Chinese regulators hit e-commerce giant Alibaba with a record 18.2 billion yuan (2.78 billion dollars) fine on Saturday over practices deemed to be an abuse of the company’s dominant market position. The State Administration for Market Regulation said it assessed the fine after concluding an investigation into Alibaba that began in...

Fashion

Nigeria receives Covid-19 test kits from Alibaba founder Jack Ma

Nigeria on Wednesday received test kits and protective gear from China's richest man, Jack Ma, to help fight coronavirus, which has so far claimed one life and infected 45 others in Africa's most populous nation. Nigeria's top health official, Abdulaziz Abdullahi, told AFP that the country had received 100,000 face masks, 1,000 protective gowns...

People

Alibaba founder Jack Ma offers to donate coronavirus test kits to the US

Chinese billionaire businessman Jack Ma on Friday offered the United States 500,000 coronavirus test kits and a million masks, as the country faces a shortage of kits for diagnosing the potentially deadly disease. In a statement on Twitter, the founder of e-commerce giant Alibaba said, "drawing from my own country's experience, speedy and...

Business

Things to know about e-commerce giant Alibaba

Formed in the Hangzhou flat of co-founder Jack Ma in 1999, Alibaba has ridden the seemingly insatiable Chinese appetite for online shopping to become one of the world's most valuable companies. On Friday, the US-listed company confirmed plans to add its value further, but listing additional shares in Hong Kong in an offering worth around 13...

People

Jack Ma bids adieu to Alibaba on his 55th birthday

Jack Ma steps down next week as chairman of Alibaba, but the start-up he built into an online retail behemoth is expected to keep thriving into a new era thanks to a culture of innovation he helped nurture. A former English teacher whose often playful image shattered the stereotype of the drab Chinese executive, Ma officially leaves on Tuesday,...

Business

Alibaba spends 2 billion USD on e-commerce platform NetEase

Alibaba Group has bought the e-commerce platform of NetEase for about 2 billion dollars and will participate in a 700 million dollars investment in NetEase's music streaming service, the two Chinese firms said on Friday. The move will see e-commerce titan Alibaba take control of Kaola, one of China's top online shopping platforms for foreign...

Business

Tech giants Ma and Musk clash on future of AI

Jack Ma believes artificial intelligence poses no threat to humanity, but Elon Musk called that "famous last words" as the billionaire tech tycoons faced off Thursday in an occasionally animated debate on futurism in Shanghai. The Chinese co-founder of Alibaba and the maverick industrialist behind Tesla and SpaceX frequently pulled pained...

People

Jack Ma, China's richest man, is a Communist Party member

Jack Ma, founder of Chinese tech giant Alibaba, is among the world's richest people but he has now emerged as a member of another club: China's 89-million-strong Communist Party. The billionaire's Communist bona fides were revealed by the People's Daily, the party's official mouthpiece, in an article praising contributors to China's development....

People

Alibaba's Ma calls trade war 'stupidest thing in the world'

The US-China trade war is the "stupidest thing in the world," Alibaba e-commerce tycoon Jack Ma declared at an import fair that China opened Monday partly to counter foreign criticism of its trade policies. Ma, who recently took back an earlier pledge to create a million jobs in the US -- blaming the trade war launched by Donald Trump -- made...

Business

Alibaba's Ma says 1m US jobs pledge thwarted by trade row

Alibaba founder Jack Ma said his ambitious pledge to create one million jobs in the US had been scuppered by the trade row between Beijing and Washington, Chinese state news reported Thursday. The billionaire owner of China's largest online shopping portal made the headline-grabbing promise to Donald Trump last year, as Beijing courted the...

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Business|TIMELINE

Timeline: the rise and rise of Alibaba

This week was shaken by several news coming from Chinese e-commerce giant Alibaba. To start, the company’s founder and CEO, Jack Ma, announced his plans to retire in 2019. Daniel Zhang is set to be his successor. Today, Alibaba and Russian technology group Mail.ru said they would launch a joint e-commerce venture in Russia and former Soviet...