11:17 - 24.01.2024

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January 24, Fineko/abc.az. The former head and founder of Alibaba, Jack Ma, bought shares of the company in the 4th quarter of 2023, ABC.AZ reports with reference to The New York Times.

Jack Ma bought about $50 million worth of Alibaba shares traded in Hong Kong in the 4th quarter of 2023.

In addition, Alibaba shares were bought by Ma's long-time partner and current chairman of the company's board of directors, Joseph Tsai, during the same period. He acquired Alibaba securities traded in the United States for about $151 million through the family investment fund Blue Pool Management, according to reports filed with the U.S. Securities and Exchange Commission.

Ma and Tsai bought relatively small shares: Alibaba's total capitalization is about $171 billion. But the purchases indicate that Ma and Tsai consider the business undervalued, and the actions of these businessmen are closely watched by investors and policy makers.