Chinese state media hinted over the weekend that Ma is being forced out of Alibaba’s parent company, the Ant Group, so he will have plenty of time to work on his hobbies.
Alibaba founder Jack Ma, once a flamboyant celebrity and the richest man in China until he criticized Chinese Communist Party economic policies, left his low-profile refuge in Japan this week to visit Thailand and learn about farming, fishing, and kickboxing.
Ma appears to be devoting himself to international humanitarian work, after cleaning up a little Alibaba corporate business in Thailand and bidding farewell to his charities in China: He visited several research institutes in the Netherlands in October 2021 to acquaint himself with food-related technology including agricultural infrastructure, plant breeding, and the training of expertise in the field, according to people familiar with his plans.
Jack Ma was the control person owning a 34 percent stake of a Hangzhou-based consultancy company, a partner of two equity investment firms holding an aggregate of 53.46 percent of Ant’s shares. Therefore, he could indirectly control the voting rights represented by Ant’s 53.46 percent of shares through the consultancy company.
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