"Alibaba's Jack Ma and Co-Founders Purchase $250 Million in Company Stock, Boosting Share Value"
Alibaba co-founder Jack Ma and Chairman Joe Tsai purchased millions of dollars worth of shares in the company in the fourth quarter, with Ma buying $50 million worth of Hong Kong-traded stock and Tsai purchasing about $151 million worth of Alibaba's U.S.-traded shares through his family investment. The purchases, reported by the New York Times, led to a 7% increase in the company's U.S.-listed shares. Alibaba, currently undergoing an overhaul and facing competition in China's online shopping market, had previously announced plans to sell 10 million American Depository Shares.