Chinese tech titan Jack Ma turns to farming, invests 10% stake in agrotech startup: Reports
Business Insider on 1 August, quoting a report from South China Morning Post. Incorporated on 20 July in Hangzhou city, the agrotech startup is called '1.8 Meters Marine Technology (Zhejiang) Co', said the report, adding Ma's off of investment holdings companies, Hangzhou Dajingtou No. 22 Arts and Culture Co., invested a 10% stake in the startup.
The report of the new venture by Ma, arrived after three years since he vanished from public view. Earlier in 2020, Ma angered the Chinese authorities when he in a speech criticized China's financial regulatory system. He had then claimed Chinese banks were operating with a 'pawnshop' mentality.
This resulted in intense regulatory scrutiny of his businesses by Chinese authorities and a wider crackdown on tech firms in Asian country. In his 3-years of disappearance, Ma appeared to be traveling the world with a focus on studying agrotech, the SCMP report noted. Ma was in Spain in October 2021, learning about agriculture and technology related to environmental issues.
For his study, Ma even went to Netherlands, Japan, and Thailand. This year in May, Ma even took a teaching position at Tokyo College. There he researching sustainable agriculture and food production, Tokyo College said in an announcement.
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