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Alibaba shares plunge after China detains man surnamed ‘Ma’ as people mistake him for tech tycoon Jack Ma

Chinese e-commerce giant Alibaba’s shares plummeted on Tuesday after reports emerged that an individual surnamed “Ma” in the city of Hangzhou was detained on grounds of national security, raising concerns about the company’s founder Jack Ma.The accused was placed under under “compulsory measures” on 25 April on suspicion of “colluding with overseas anti-China hostile forces” to “incite secession” and “incite subversion of state power,” according to China’s state broadcaster CCTV.Alibaba’s Hong Kong-listed shares plunged 9.4 per cent, wiping out about $26bn of market value, after Chinese state media reported the detention of the individual surnamed Ma, reported Bloomberg.Majority of...
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No, Jack Ma Didn’t Get Arrested — Why Alibaba Investors Thought He Did

After Alibaba (BABA) founder Jack Ma shared his true thoughts about the Chinese government, he went under the radar for months, with many assuming he was missing at the hands of state officials. Unnamed sources claimed to spot him in Hong Kong late last year, but other than that, the only sighting is a seemingly scripted videotape and a philanthropic school visit.
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Jack Ma Fast Facts

View CNN Fast Facts on Jack Ma to learn more about the billionaire entrepreneur and co-founder of China's most successful tech empire.
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