Who is Jack Ma

During his visit, Ma discussed topics such as artificial intelligence-powered chatbot ChatGPT and also said he hoped to return to teaching one day, the Yungu School said on its official WeChat account

The Alibaba-owned newspaper said he had made a short stopover in Hong Kong, where he met friends and also briefly visited Art Basel, an international art fair

The Chinese fintech giant has been discussing options to reduce its stake in One 97 Communications Ltd. after its share percentage increased passively due to share buybacks

The company will give 10 individuals, including the founder, management and staff, voting rights independently, effectively removing Ma's voting control of Ant, according to an announcement

The deal resolves a key hurdle for Ant as it seeks to meet requirements from regulators following a crackdown on its business after its record initial public offering was torpedoed in 2020

Alibaba founder Jack Ma, who ran into trouble with the Chinese government for violating anti-monopoly regulations, is now living in Tokyo for about six months, says a media report

As China faces violent protests over its harsh zero-Covid policy, Alibaba founder Jack Ma has been spotted in Tokyo, living a quiet and peaceful life amid tech crackdown in his home country

A fine on Ant could help pave the way for the company to secure a long-awaited financial holding company license, seek growth again, and eventually revive its plans for a public market debut

Ant, an affiliate of Alibaba, has been subjected to a sweeping restructuring by China, whose initial public offering of $37 billion, was derailed by the country's regulators in late 2020

The People's Bank of China intends to accept Ant's application to become a financial holding company once it's submitted

Shares of the e-commerce giant shot up as much as 7% earlier after a Bloomberg News report that China's financial regulators have established a team to assess the fintech giant's share sale plans.

The State-owned firms and regulators like China's Cyberspace Administration are obtaining the so-called 'golden shares' in private companies, especially internet/technology firms holding large amounts

Alibaba Group increased a share buyback to $25 billion from $15 billion to prop up a stock price that has fallen by more than half since Communist Party tightened control over tech industries

It was unclear what triggered the new scrutiny or whether it will lead to any actions or conclusions by regulators

The changes come as Alibaba faces headwinds on multiple fronts, including increased competition, a slowing economy and a regulatory crackdown

Alibaba shares slumped by more than 10% in Hong Kong trade after the Chinese online retail giant warned of a slowdown in consumer spending, BBC reported

Alibaba now expects revenue for the year ending in March to rise between 20% and 23%, the slowest pace since its 2014 stock market debut

The company contributed $1.4 bn to Alibaba Group Holding's earnings

Ma's charitable foundation, which handles his media queries, did not respond to a request for comment.

Despite a 30 per cent recovery from Oct. 5, the stock is still 43 per cent lower than its October 2020 peak.