Alibaba's Jack Ma's Surprising Arrival in Nepal: Business Trip or More?

Alibaba Group Holding Limited BABA founder Jack Ma reached Kathmandu on a special flight on Tuesday afternoon.

As of June 2023, Ma is the fourth wealthiest person in China, with a net worth of $34.5 billion, and the 39th wealthiest person in the world.

Very few officials knew about his visit, Kathmandu Post cites a senior government official.

Ma's visit to Kathmandu was reportedly billed as a "business trip."

Six crew members accompanied Ma on his flight from Bangladesh to Nepal.

Ma has requested to meet with Prime Minister Pushpa Kamal Dahal and Finance Minister Prakash Sharan Mahat.

After criticizing China's banks and regulators, Ma disappeared from public view between October 2020 and January 2021. The criticism followed the last-minute quashing of fintech affiliate Ant Group's ambitious initial public offering by the domestic regulators. Then he toured various countries before settling in Japan. 

During the pandemic, Jack donated emergency supplies to some Asian countries, including Nepal.

The rest of his itinerary in Nepal has been kept secret. Reportedly, before leaving for Pakistan on Thursday, he will visit Chitwan.

Ma reportedly played a pivotal role in Alibaba's restructuring into six divisions, followed by a reshuffle in management.

Price Action: BABA shares traded lower by 2.48% at $84.71 on the last check Wednesday.

Photo via Wikimedia Commons