Alibaba partner and chief talent officer Jiang Fang said that Jack Ma has not sold a single share, in response to recent rumors suggesting that Ma has significantly sold Alibaba shares.
Jiang said that, in August of this year, Ma’s office signed a reduction agreement with a stockbroker to raise funds for investments in agricultural technology and philanthropic projects, both domestically and internationally.
As the designated selling price at that time was much higher than the current stock price, no shares will be sold unless the stock price reaches the agreed-upon selling price.
Therefore, in reality, Ma has not sold any of his shares.
”Ma’s office has issued a statement saying that Ma will continue to hold onto his Alibaba stake. This is a fact and not mere lip service,” said Jiang. “Alibaba’s current price is significantly lower than its real value so he will not sell.”
Ma believes that the value of Alibaba’s businesses will increase, Jiang said.
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