Jack Ma, Alibaba Group Holding Ltd. founder is out of the limelight and doing well with his philanthropy. He's taken up painting, a company executive said.
Alibaba executive vice chairperson Joe Tsai says he talks to Ma each day. "He's lying low right now. I talk to him every day," Tsai said Tuesday during an interview with CNBC's "Squawk Box."
"He's actually doing very, very well. He's taken up painting as a hobby. It's actually pretty good," Tsai said on CNBC.
Ma has been out of the public eye since he criticized China's regulatory system in November.
Known for being candid and for pushing boundaries, Ma stepped down from Alibaba in 2019 but maintained a presence for market participants.
He was set to become the wealthiest man in China following a dual stock market debut of his electronic payments company Ant Group in Shanghai and Hong Kong - said to be valued at around $34.4 billion.
But regulators pulled the plug on the initial public offering two days before it was set to go live. It was believed Ma's negative comments about the China financial sector prompted the move.
After the cancellation, Ma disappeared. This led to rumors he was "missing."
Some analysts saw Alibaba's initial public offering suspension as an attempt by China to humble a company that had become too influential and a leader who had become too vocal.
On April 10, China regulators imposed a record $2.8 billion fine on Alibaba - claiming the company abused its dominant market position, BBC News reported then.
Tsai said Ma built a "massive" company and had contributed greatly to society. "The man is doing exactly what he wants to do," Tsai said. "Enjoying his painting and philanthropic works." Ma is just "living a normal life," he said.
