SHANGHAI – Jack Ma, founder of the Alibaba Group, made his first appearance since October on Wednesday, when he spoke to a group of teachers by video, dispelling concerns about his unusual absence from public life and sending shares in the e-commerce giant.
Speculation about Ma’s whereabouts came after this month’s news that he was replaced in the final episode of a reality show of which he was a judge, and amid Beijing’s regulatory crackdown on his expanding business empire.
The billionaire, who has a cult reverence in China, has not appeared in public since October 24, when he attacked China’s regulatory system in a speech at a Shanghai forum.
This put him on a collision course with authorities and led to the suspension of a successful $ 37 billion IPO for Alibaba’s financial affiliate, Ant Group.
Alibaba and his charitable foundation confirmed that he attended an online ceremony for an annual event for rural teachers on Wednesday.
In the 50-second video, Ma, wearing a navy blue pullover, spoke of a room with gray walls, a large painting and floral arrangements. It was not clear where the room was.
Hong Kong’s listed Alibaba shares jumped more than 10 percent with the news, which was first reported by Tianmu News, a media supported by the government of Zhejiang, the province where Alibaba’s headquarters are located.
“Jack Ma’s reappearance gave investors peace of mind after many rumors, allowing them to accumulate shares that were lagging in the market,” said Steven Leung, director of sales at UOB broker Kay Hian in Hong Kong.
The topic “Jack Ma makes his first public appearance” and his video speech to teachers soon started to become a trend on Weibo in China, like Twitter, generating a lot of discussion.
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Although Ma has left corporate positions, he maintains significant influence over Alibaba and Ant and promotes them globally at political and business events. He also continues to mentor management talent at “Alibaba Partnership”, a group of 35 members of company managers.
China has stepped up regulatory crackdown on anti-competitive behavior in the internet sector and Alibaba has become the target of an antitrust investigation launched last month by Chinese authorities.
The company plans to raise at least $ 5 billion from the sale of a US dollar-denominated security this month.