Chinese billionaire behind Alibaba group spotted cruising around Balearic Islands on luxury megayacht

CHINESE billionaire Jack Ma Yun, the founder of Alibaba group, has been spotted cruising around the Balearic Islands in his megayacht.

The yacht, which is called Zen, docked in the port of Andratx in Mallorca on Tuesday, where Ma was spotted shopping and on Wednesday it moored near the beach town of Santa Ponsa.

The sleek five-deck, vertical-bowed motor yacht, measuring 88 metres (289 ft), can accommodate up to 16 guests and a crew of 25, according to the Superyacht Times edition.

It reportedly took four years to build by Dutch manufacturer Feadship, cost $200 million and was delivered in April.

The businessman disappeared from public view after he publicly criticised China’s regulatory system in a speech last year but reappeared in early October in Hong Kong before flying to Spain on his private jet last week.

Ukraine Kiev Kief Jack Ma
Archive photo of Jack Ma, founder of China’s Internet giant Alibaba. Cordon Press

His empire promptly came under heavy scrutiny by regulators and  led to the suspension of Ant Group’s $37 billion blockbuster IPO.

The South China Morning Post reported that Ma was visiting Spain for a study tour on agriculture and technology related to environmental issues.

Shares in the Alibaba Group rose nearly 10% on Wednesday with brokers citing the trip as a sign that China’s government was relaxing scrutiny of the group.


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