Jack Ma Returns to Business with New Food Venture

The Alibaba co-founder's new company, 'Hangzhou Ma's Kitchen Food', marks his reentry into the business world after laying low since 2020.

Jack Ma, the co-founder of Alibaba, has registered a new company named 'Hangzhou Ma's Kitchen Food' with a capital of 10 million yuan ($1.4 million).
The new venture involves selling packaged agricultural goods, but few other details are known about the business.
Several of Ma's top executives from his philanthropic foundation are reportedly on board with the new venture.
Ma's move into the food business comes after a period of laying low following his criticism of China's financial system in 2020, which led to a massive crackdown on private enterprise in China.
Despite the new venture, Ma's fortune has declined by more than half, and Alibaba's share price has slipped since the announcement.