Tag: Tsai, Joseph C

Jack Ma Doubles Down on Alibaba

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Tsai has bought about $151 million worth of Alibaba’s U.S.-traded shares in the fourth quarter, via his Blue Pool Management family investment vehicle, a securities filing confirmed on Tuesday. Ma, who stepped down as the company’s executive chairman in 2019 but remains a major shareholder, bought $50 million worth of Hong Kong-traded stock in the quarter, according to a person with knowledge of the matter. (Both men already hold sizable amounts of Alibaba stock.) The purchase sizes aren’t huge — Alibaba’s market capitalization is about $171 billion — but given…

Daniel Zhang Steps Down From Alibaba

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Daniel Zhang, the departing chief executive and chairman of the Chinese tech giant Alibaba, has stepped down as head of the tech company’s cloud division, a position he held for mere months. The company announced in June that Mr. Zhang, would give up the chairman role this month to Joseph Tsai, a co-founder of Alibaba, and that Eddie Yongming Wu, another founder, would became the chief executive. But Mr. Zhang had been widely expected to continue to lead Alibaba’s cloud computing division, a position he assumed in March as part…