Regarding the recent rumors of Jack Ma selling a large amount of Alibaba Group stocks, Jiang Fang, a partner and Chief Talent Officer at Alibaba Group, posted on the company’s internal network today stating that “Jack Ma did not sell a single share.”
Jiang Fang wrote a detailed explanation regarding this matter, “In order to raise funds for agricultural technology and public welfare projects both domestically and internationally, Jack Ma’s office signed a reduction contract earlier this year with stock brokers in accordance with the provisions of the US SEC 10b5-1. According to regulations, this conditional future reduction plan will be announced to the public in mid-November. The selling price set in August was much higher than the current stock price, so Jack Ma did not sell a single share.”
Alibaba Group’s Chairman Cai Chongxin also commented, “As long as we maintain an open mind and innovative thinking, we have the opportunity to create another unique Alibaba.”
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