Jack Ma Calls Tencent Move ‘Stupid,’ Apologizes for JD Insults
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Billionaire Jack Ma apologized for calling Chinese e-commerce rival JD.com Inc. a “tragedy,” saying he was sorry for causing the company trouble by “putting it all out there.”
The Alibaba Group Holding Ltd. founder and chairman said on his personal Weibo account that JD.com had his blessings after criticisms of its business model were published last month in a Chinese-language book. Ma said he had a habit of making “crazy” and “stupid” boasts and didn’t expect that such private comments among friends would be made public. He made no mention of another passage in the book quoting Ma as faulting strategic moves by Tencent Holdings Ltd. as ``stupid.''