Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Technology
Anusuya Lahiri

Alibaba's Jack Ma Severes Ties With Co-founded Lifestyle Firm

  • Alibaba Group Holding Ltd (NYSE:BABA) founder Jack Ma Yun and movie star Jet Li have quit Taiji Zen International lifestyle firm, the Global Times reports.
  • Li stepped down as President and GM of Taiji, while Ma led Hangzhou Kunbao Investment Consultancy Co no longer remained a shareholder of the company.
  • Taiji’s official store on Alibaba’s online marketplace, Taobao, has few fans, with mats for exercising tai chi, priced at 599 yuan ($94), showing zero sales.
  • Early in October 2020, Ma stepped down as director of Taiji, with former VP of Alibaba Fan Chi no longer a director of Taiji Zen as of January 2022.
  • Ma and Li co-founded Taiji to promote tai chi, a traditional form of Chinese martial arts. The pair also withdrew from several cooperation projects.
  • During the Singles Day shopping festival in 2017, Ma debuted in a movie called Gong Shou Dao, or The Art of Attack and Defence, alongside Li, Donnie Yen, and other movie stars to promote tai chi.
  • The movie did not garner much attention. 
  • Price Action: BABA shares traded lower by 1.58% at $101.89 on the last check Monday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.