Alibaba’s Jack Ma resigns from Softbank

Business Habit ⋅ @businesshabit ⋅ Jul 01, 2020

Jack Ma, a Chinese billionaire, is resigning from the board of Softbank Group Corporation, a Japanese technology company that has been struggling to invest in risky joint ventures such as WeWork.

Tokyo-based Softbank announced the resignation of Jack Ma on Monday before releasing its financial results. However, he did not say why he was leaving.

Jack Ma, the co-founder of Chinese e-commerce giant Alibaba, is currently focused on humanitarian work. He has donated masks and corona test kits to various countries as part of his support in the fight against the coronavirus epidemic.

Meanwhile, Softbank has announced the names of three new board members following the resignation of Jack Marr.

Note that Softbank is one of the biggest investors in Alibaba. Masayoshi Son, the company’s chief executive, and founder had a close relationship with Jack Marr, who joined the Softbank board in 2006.

Category and Tags

Business Insider Jack Ma, Chinese Billionaire, Wework, Masayoshi Son, Softbank, Alibaba

More stories by Business Habit

Bangladesh, China to elevate ties to new height

BEIJING, March 28: China and Bangladesh have decided to elevate their relations to a new height after a historic bilateral meeting between President Xi Jinping and Chief Adviser Professor Muhammad Yunus.The meeting held at the Chinese capital's Great

How to Earn Money with Cryptocurrency ?

Cryptocurrency has emerged as a lucrative way to make money, attracting both investors and traders worldwide. Wh...

London Buses to Carry ‘Praise Allah’ Adverts During Ramadan

Islamic Relief, the UK's largest Muslim charity, launched an advertising campaign featuring the phrase "Subhan Allah" ("Glory be to God") on hundreds of buses across cities like London, Birmingham, Manchester, Leicester, and Bradford. This initiative

Top 10 Cryptos You Should Buy in 2025

As we progress through 2025, the cryptocurrency market continues to evolve, presenting both seasoned investors and newcomers with a plethora of opportunities. Identifying cryptocurrencies with strong fundamentals, innovative technologies, and substan

How Much Water Should You Drink Every Day in Ramadan?

Photo: ShutterstockRamadan is a sacred month observed by Muslims worldwide, marked by fasting from dawn to sunset. During this time, no food or drink is consumed throughout daylight hours, making hydration a key conc...