- Alibaba cofounder Jack Ma simply arrange a brand new firm known as “Hangzhou Ma’s Kitchen Meals,” per media stories.
- It is concerned in gross sales of pre-packaged meals and the processing and retail of agricultural merchandise, per SCMP.
- Ma has proven curiosity within the agriculture enterprise since retiring from Alibaba in 2019.
For years, Alibaba cofounder Jack Ma has been the poster boy for China’s tech trade — however it appears like he is shifting on to the meals enterprise.
On Wednesday, Ma included an organization known as “Hangzhou Ma’s Kitchen Meals” within the metropolis the place Alibaba is predicated, in response to media stories. Hangzhou can also be Ma’s hometown.
The corporate’s registered capital is 10 million Chinese language yuan, or $1.4 million, Alibaba-owned South China Morning Submit reported, citing the official Nationwide Enterprise Credit score Info Publicity System, a company registry.
Hangzhou Ma’s Kitchen Meals is wholly owned by Ma’s funding car, Hangzhou Dajingtou. No 22 Arts and Tradition. The corporate is concerned within the gross sales of pre-packaged meals and the processing and retail of agricultural merchandise, per SCMP.
Ma’s curiosity in agriculture seems to have taken off within the wake of the federal government’s crackdown on his companies, which began in 2020 after he angered Beijing with a crucial speech about China’s financial-regulatory system.
The tech titan — who’s recognized for his outspoken and flamboyant persona — vanished from public view for 2 years after the crackdown. His private wealth additionally tanked, and his corporations misplaced a whole lot of billions of {dollars}. He is stored a low profile ever since, making solely uncommon public appearances.
As an alternative, over the previous few years, he has been touring the world whereas finding out agrotech.
In October 2021, Ma was in Spain studying about agriculture and expertise associated to environmental points. He has additionally traveled to the Netherlands, Japan, and Thailand to check agrotech.
In Might, Tokyo School introduced that Ma can be taking on a instructing place whereas researching sustainable agriculture and meals manufacturing.
In January, he was in Thailand, the place he dined with Supakit Chearavanont, the chairman of Charoen Pokphand Group, a serious animal feed producer.
Ma retired from Alibaba in 2019. His basis, the Jack Ma Basis, didn’t instantly reply to a request for remark from Enterprise Insider.
Correction: November 27, 2023 — An earlier model of this story said that the registered capital of Hangzhou Ma’s Kitchen Meals is 10 million Chinese language yuan, or $1.4 billion. It’s $1.4 million, not $1.4 billion.
