Chinese billionaire Jack Ma spotted in Bangkok

BANGKOK: Alibaba Group founder Jack Ma was spotted socialising in Bangkok this week.

The latest photo of Ma came on the Instagram account of Michelin-starred chef Supinya Junsuta, better known as "Jay Fai", who posted on Friday a picture of herself with Ma along with the caption "Incredibly humble, we are honoured to welcome you and your family to Jay Fai's".

Thai media also reported that Ma attended a boxing match at Bangkok's Rajadamnern Stadium where he posed with clenched fists for a photograph with Thai boxing champion Sombat Banchamek which has gone viral on social media.

Earlier today, Reuters reported that Ma will no longer control the Chinese fintech giant after the firm's shareholders agreed to implement a series of adjustments that will see him give up most of his voting rights.

In a statement, the group said Ma's departure from Ant, a company he founded, shows the determination of the Chinese leadership to reduce the influence of large private investors.

Ma has stayed out of the public eye after he criticised Chinese regulators for holding back innovation in November 2020.

He has kept a low profile since the crackdown on the tech sector which saw Chinese regulators scrapping the IPO of Ma's Ant Group and issuing Alibaba that operates popular Chinese shopping platforms Taobao and Tmall with record fines for alleged unfair practices.

After the crackdown, he was reported living in Tokyo with his family.

-- BERNAMA