Alibaba Group founder Jack Ma was on Mallorca this week where his luxury yacht is anchored on his first trip abroad since he fell out with China's regulators in 2020.
The Chinese billionaire has largely been out of public view since he publicly criticised China's regulatory system in a speech last year. His empire promptly came under heavy scrutiny by regulators, that even led to the suspension of Ant Group's $37 billion blockbuster IPO.
Ma was seen on Tuesday in the port of Andratx buying home decor at a local store.
The superyacht Zen has been moving along the island´s northwestern coast for the past few days and was in Andratx on Tuesday.
It dropped anchor on Wednesday near Santa Ponsa.
Without citing any sources, El Pais newspaper said Ma had been visiting Spain's Balearic Islands since Saturday, accompanied by various Chinese business people and his security detail.
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 was built in the Netherlands and delivered in April.
Ma, a globe-trotter not known to shy away from the limelight before falling out with regulators, retired as Alibaba's chairman in 2019.
Hong Kong's South China Morning Post, which is owned by Alibaba, reported on Tuesday that Ma was in Spain for a study tour on agriculture and technology related to environmental issues after spending "private time" with his family in Hong Kong.
Alibaba Group's Hong Kong shares rose nearly 10% earlier on Wednesday, extending gains for the fourth consecutive session, with brokers saying that investors saw Ma's trip as a sign of the central government relaxing its scrutiny over the group.
A Spanish banking industry source told Reuters Ma had visited Mallorca in his company in 2019 and that the billionaire liked to "often spend time" in the Balearic Islands.
Jack Ma Yun (born 10 September 1964) is a Chinese business magnate, investor and philanthropist. He is the co-founder and former executive chairman of Alibaba Group, a multinational technology conglomerate. In addition, he co-founded Yunfeng Capital, a private equity firm. Ma is a strong proponent of an open and market-driven economy.
In 2017, Ma was ranked second in the annual "World's 50 Greatest Leaders" list by Fortune. He has widely been considered as an informal global ambassador for Chinese business, and is an influential figure for the community of startup businesses. In September 2018, he announced that he would retire from Alibaba and pursue educational work, philanthropy, and environmental causes; the following year, Daniel Zhang succeeded him as executive chairman.
As of October 2021, with a net worth of $42.3 billion, Ma is the fourth-wealthiest person in China, as well as one of the wealthiest people in the world, ranked 32nd by Bloomberg Billionaires Index. In 2019, Forbes named Ma in its list of "Asia's 2019 Heroes of Philanthropy" for his work supporting underprivileged communities in China, Africa, Australia, and the Middle East.