Alibaba Group Holding founder Jack Ma is "lying low" and focusing on hobbies and philanthropy, the Chinese e-commerce giant's executive vice chairman and co-founder Joe Tsai has told CNBC.
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Following Ma's criticism of China's regulatory system last year, authorities came down heavily on the company, leading to the shelving of financial affiliate Ant Group's $US37 billion ($A48 billion) initial public offering and an enforced restructuring of Ant.
Ma, China's best-known entrepreneur, has been largely out of public view since, something which caused Novocastrians with links to the businessman to express their concern earlier this year.
"He's lying low right now. I talk to him every day," Tsai said on CNBC's Squawk Box TV show.
Ma was befriended as a youth in 1980 by a Newcastle family, the Morleys, and would go on in 2017 to provide $US20 million ($26 million) to establish the Ma & Morley Scholarship Program in partnership with the University of Newcastle.
Mr Ma has credited the help the Morleys gave him over the years as a major influence on his life.
Earlier this year, University of Newcastle Vice Chancellor Alex Zelinsky told the Newcastle Herald that the university valued Ma's contribution.
"The Ma & Morley scholarship provides students from a wide range of social and academic backgrounds with a comprehensive world class education experience," Professor Zelinsky said.
"The university is grateful to the foundation for the opportunity it provides for scholarship recipients and we are proud of all our Ma & Morley scholars."
Its three annual reports indicate the foundation provided 30 scholarships a year in its first two years and 29 in 2020.
Financial support to students of almost $1.3 million had been provided over the three years, including $640,000 last year to 59 "full degree" scholars.
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Ma, who was known for his outspokenness and for pushing boundaries with audacious statements, stepped down from Alibaba in 2019 but continued to loom large in the eyes of investors.
"The idea that Jack has this enormous amount of power, I think that's not quite right," Tsai said.
"He is just like you and me, he's a normal individual."
Alibaba was also fined a record $US2.8 billion in April for anti-competitive business practices amid a wider regulatory crackdown on China's booming "platform economy" based around technology frameworks.
"Our business is under some kind of restructuring on the financial side of things, and also in antitrust regulation. We had to pay a big fine. But we've gotten that behind us, so we're looking forward," Tsai told CNBC.
Asked about human rights issues in China, Tsai said a large number of people in the country were happy that their lives are improving.
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