Mallorca: Alibaba Group founder Jack Ma was on the Spanish island of Mallorca, where his luxury yacht is anchored, two Spanish newspapers said on Wednesday, on his first overseas trip in 2020 since being out with China’s regulators. The Chinese billionaire has largely been out of public view since he publicly criticized China’s regulatory system in a speech last year. His empire immediately came under heavy scrutiny by regulators, even as Ant Group’s $37 billion blockbuster IPO was suspended. The Diario de Mallorca newspaper said Ma was seen buying home decorations at a local store in the port of Andratex on Tuesday. Superyacht Zen has been moving along the northwest coast of Mallorca for the past few days and was in Andratex on Tuesday. It dropped anchor near the beach town of Santa Ponsa on Wednesday, but a Reuters cameraman could only see small auxiliary boats emptying from shore and returning to Superyachts, with Ma nowhere to be seen. Without citing any sources, El Pais newspaper said Ma had been visiting Spain’s Balearic Islands since Saturday, with various Chinese businessmen and their security details. According to the Superyacht Times edition, the sleek five-deck, vertically-tilted motor yacht, measuring 88 m (289 ft), can accommodate up to 16 guests and a crew of 25. It was made in the Netherlands and delivered in April. Ma, a globe-trotter not known for shying away from the limelight before falling out with regulators, retired as Alibaba’s chairman in 2019. Hong Kong’s South China Morning Post, which is owned by Alibaba, reported on Tuesday that Ma was in Spain for a study tour on agriculture and technology related to environmental issues after spending “private time” in Hong Kong with his family. . Alibaba Group’s Hong Kong shares rose nearly 10% on Wednesday, posting gains for a fourth straight session, with brokers saying investors saw Ma’s visit as a sign of the central government relaxing its probe on the group . A Spanish banking industry source told Reuters Ma visited Mallorca at his company in 2019 and the billionaire liked to “spend time often” in the Balearic Islands. (Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)
