There has been a report on the Alibaba stock ownership that revealed Jack Ma, the former CEO and founder of Alibaba, has purchased additional Alibaba shares. Through the Hong Kong Stock Exchange in the past quarter, he acquired shares with a total value of $50 million. It’s worth noting that Joe Tsai, the co-founder of Alibaba and former chairman of the board, also increased his stock holdings in the past quarter. Tsai purchased shares with a total value of $151 million in the US stock market through Blue Pool Management, a family fund. Tsai has also filed a filing report for this stock purchase.
Alibaba’s latest business valuation stands at approximately $171 billion. Although the value of the shares purchased by the two founders may not be significantly substantial, the fact that they bought Alibaba shares at a significantly reduced price in the past year may suggest that they believe the current share price is undervalued. This news has led to an almost 8% increase in Alibaba’s stock price.
TLDR: Jack Ma and Joe Tsai, co-founders of Alibaba, have increased their stock holdings in the company. Ma bought $50 million worth of shares through the Hong Kong Stock Exchange, while Tsai purchased $151 million worth of shares through Blue Pool Management in the US market. This news resulted in an almost 8% increase in Alibaba’s stock price.
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