Jack Ma’s Video Chat Prompts a $58 Billion Sigh of Relief
- Alibaba shares soar after Ma appears for first time in months
- Questions remain over the scale of Beijing’s clampdown
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He appeared for less than a minute and said nothing about the Chinese government clampdown that had left his business empire in crisis.
But for investors who’d been waiting months to catch a glimpse of Jack Ma, the entrepreneur’s participation in a live-streamed video conference on Wednesday was enough to trigger a $58 billion sigh of relief. That’s how much Alibaba Group Holding Ltd.’s market value soared after a clip of Ma speaking to a group of teachers began circulating online -- his first public comments since disappearing from view late last year.