Alibaba founder Jack Ma opens an agricultural company
Kyiv • UNN
Jack Ma, the co-founder of Alibaba, has launched Hangzhou Ma's Kitchen Food, a $1.4 million company specializing in packaged food production and agricultural processing. The move follows a period of low public attention after Ma's companies suffered significant financial losses due to a government audit.
Alibaba co-founder Jack Ma has founded a a new company called Hangzhou Ma's Kitchen Food, worth $1.4 million. Which sells packaged food products. This is reported by Insider, according to UNN.
Details
The company's registered capital is $1.4 million, according to the South China Morning Post, owned by Alibaba, citing the official corporate register of the National Enterprise Credit Information Publicity System.
The new company is fully owned by Ma's investment company. In general, the company is engaged in the sale of packaged foods, as well as processing and retailing agricultural products.
Ma's interest in agriculture appears to have come after the government began going after his business in 2020 after he angered Beijing with a critical speech about China's financial regulatory system,
Addendum
The tech titan, known for his outspoken and flamboyant personality, disappeared from public view for two years after the prosecution, it said. His companies lost hundreds of billions of dollars. Since then, he has kept a low profile, only rarely appearing in public.
Instead, for the past few years, he has been traveling the world studying agricultural technology.In October 2021, Ma was in Spain, where he studied agriculture and technology related to environmental issues. He has also visited the Netherlands, Japan, and Thailand to study agricultural technology.
In May, Tokyo College announced that Ma would hold a faculty position while researching sustainable agriculture and food production.
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