We already know Alibaba Group Holding Ltd (NYSE:BABA) founder, Jack Ma, as an e-commerce entrepreneur, billionaire, humanitarian, and soon-to-be martial arts movie star. Now we can add one more of his qualities to this growing list, i.e., a recording artist.
Alibaba founder or a true artist
Ma recently posted a link on Weibo to a duet that he recorded with the Chinese pop singer Faye Wong, while he was in Kuala Lumpur, Malaysia. The song, titled “Feng Qing Yang,” is the theme song for Ma’s upcoming tai chi film Gong Shou Dao (GSD). Ma, who is the richest man in China, is reportedly a big fan of the famously reclusive songstress. In 2016, the Alibaba founder paid a large sum to bring Wong for a concert in Shanghai, according to The Jakarta Post.
In the film, which is set for release on Nov. 11, also known as “Singles’ Day” in China, Ma will star alongside Jet Li, Donnie Yen and others. GSD is produced by Jet Li. The main objective of the movie is to promote an ancient Chinese exercise regimen – tai chi. Ma himself thoroughly believes in tai chi.
Odey's Brook Absolute Return Fund was up 10.25% for the third quarter, smashing the MSCI World's total return of 2.47% in sterling. In his third-quarter letter to investors, which was reviewed by ValueWalk, James Hanbury said the quarter's macro environment was not ideal for Brook Asset Management. Despite that, they saw positive contributions and alpha Read More
It’s not the first time Ma has showcased his talent. At Alibaba’s annual party in September, Ma performed a tribute to Michael Jackson, and earlier that month, he visited the Yunqi Music Festival, notes Fortune. Also at Alibaba’s 10th anniversary party, the billionaire performed “Can You Feel the Love Tonight?” from the Lion King, dressed up as a heavy metal singer, according to The Washington Post.
Alibaba’s rising clout
Separately, a few days back, Alibaba reported its quarterly earnings for the three months ending September. For the quarter, the Chinese firm’s revenue jumped 61% from the same quarter last year to 55.1 billion yuan ($8.3 billion). The e-commerce company, which also raised its full-year forecast, is making investments in supermarkets and stores.
“We had an outstanding quarter,” said Daniel Zhang, Alibaba’s CEO, in a statement. “We are seeing the early results from our efforts to integrate online and offline with our new retail strategy.”
For the September quarter, income from operations was up 83% to 16.58 billion yuan. For the 2018 fiscal year, the company expects a revenue growth of between 49% and 53%, up from the previous forecast of 45% to 49%.
Alibaba is now preparing for the annual blockbuster Singles’ Day event on Nov. 11. It’s a massive event in China with more goods moved than the combined sales of Black Friday and Cyber Monday in the U.S. Last year, consumers spent $18 billion on that day, compared to just $5.9 billion spent on Black Friday, Cyber Monday and Thanksgiving combined in the U.S.
Singles’ Day started almost two decades ago as a shopping holiday event to celebrate those without romantic partners (anti-Valentine’s Day). However, the day gained prominence as the world’s largest shopping event only after Alibaba entered the fray in 2009, giving big discounts on a range of products.
In pre-market trading today, Alibaba shares were in the green. Year to date, the stock is up almost 109%, while in the last three months, it is up over 19%.