After months of speculations regarding his wellbeing and
whereabouts, Chinese entrepreneur Jack Ma has been spotted in the Chinese
island of Hainan, apparently sharpening his golfing skills. The co-founder of
business conglomerates such as Ant Group Co and Alibaba Group Holding Limited
was spotted teeing off at the Sun Valley Golf Resort – located towards the
southern tip of the island – according to a report by Bloomberg.

Rumours of the outspoken business personality having his
empire clamped down upon by the Chinese administration or even facing jail time
ran high for months, and has reportedly died down to some extent after the latest
sighting since his last video chat with rural educators on January 20.

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While the tycoon has not had his wings clipped, so to say, by
the government just yet, corporations undertaken by him have gone through processes
of change.

Ant, as per Bloomberg, has reached an agreement with the government
on a restructuring process that could be a step back to its public offering
back in November 2020, which was stopped by the government, just as the company
was getting ready to trade in Shanghai and Hong Kong.

A clue on Ma’s situation came earlier this week from
Masayoshi Son, the founder of SoftBank Group Corp, who said that Ma enjoys
drawing and sends him sketches done by himself, which was an indication at
large of the billionaire being out of peril at the moment.

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Alibaba shares, meanwhile, hiked up to a 1.5% rise in New
York on Wednesday. The business magnet stepped down from his duties as executive
chairman of Alibaba in 2019 and since then has cut short his day-to-day work-related activities
steadily.