No longer controlling the ant group, Jack Ma was caught dating Chief Charoen

Jakarta –

Founder of the Alibaba Group Jack Ma seen in Bangkok, Thailand this week. Jack but “hid” from the public after Chinese regulators imposed sanctions on his activity.

Jack Ma’s appearance to the public was uploaded from Michelin-starred chef Supinya “Jay Fai” Junsuta’s Instagram account. He posted the picture of him with Jack Ma and called his figure very humble about him.

“We are honored to welcome you and your family to Jay Fai,” he wrote, as quoted by Reuters, on Saturday (7/1/2023).

Local media reported that the crazy rich were at the restaurant with Supakit Chearavanont, chairman of the board of Charoen Pokphand Group (CP Group) and Charoen Pokphand Foods PCL, the largest agribusiness group in Thailand.

The media also reported that Jack Ma watched a boxing match at Rajadamnern Stadium in Bangkok. He posed with fists clenched and in a photo with Thai boxing champion Sombat “Buakaw” Banchamek.

For information, Jack Ma is rarely seen in public after his scathing criticisms of Chinese financial regulators. He communicated this in a speech in Shanghai in 2020.

Chinese tech companies, including Alibaba and Ant Group, are subject to a large regulatory crackdown on issues ranging from monopolistic behavior to consumer rights.

Jack Ma is now rumored to be relinquishing control of fintech giant Ant Group. Ant’s inability to hold an IPO is one reason.

Launched by Reuters, on Saturday (7/1/2023), Ant had previously planned a $37 billion IPO in 2020. The IPO, which was expected to be the largest in the world, was eventually canceled in November 2022 .

This forced the company to go through a forced restructuring, and Jack Ma had to relinquish his power. Some analysts predict that Ant could go IPO after Jack Ma relinquishes control.

Jack Ma previously held 50% of the voting rights in Ant. With the changes, voting rights should fall to 6.2%.

(hns/hns)