Alibaba's 'Erasing Jack Ma'... "Just an Ordinary Person, Should Be Viewed Separately from the Company"

Vice Chairman Chai Chongxin CNBC Interview
"Ma Yun Focused on Painting and Charity Activities"

[Image source=Yonhap News]

[Asia Economy Reporter Cho Hyun-ui] Alibaba, China's largest e-commerce company, has started distancing itself from its founder Jack Ma. Amid regulatory pressure, the company is undergoing restructuring aimed at reducing Ma's influence, emphasizing a 'Jack Ma erasure' approach.

On the 15th (local time), Alibaba Vice Chairman Joe Tsai said in an interview with CNBC, "We need to separate what is happening to Jack Ma from what is happening to the company."

Jack Ma fell out of favor with authorities after openly criticizing them at the Shanghai Financial Forum last October. Since then, he has rarely appeared publicly, and Alibaba Group has faced various pressures, including a 3 trillion won antitrust fine.

Vice Chairman Tsai, who claims to speak with Ma daily despite Ma's absence from official appearances, said, "The idea that Ma holds tremendous power is not quite accurate. He is an ordinary person like you or me."

He added, "He built such a great company of this scale and did good for society, but now he wants to spend his time doing what he truly enjoys, such as painting and charity work."

Regulatory pressures surrounding Alibaba Group, including the transformation of Ant Group into a financial holding company, are still ongoing. Vice Chairman Tsai said, "The company is currently undergoing some restructuring related to finance and antitrust. We had to pay many fines, but that is in the past. Now, we are looking forward."

This content was produced with the assistance of AI translation services.