Alibaba founder Jack Ma is diving into the world of sustainable food production with a new investment in the fishery and agriculture sectors. His newly-established start-up, “1.8 Meters Marine Technology (Zhejiang) Co,” is based in Hangzhou, China, and has a registered capital of 110 million yuan (US$15 million).
Ma’s venture into sustainable food production comes after a period of relative seclusion following his criticism of China’s regulatory system in 2020. Since then, he has embarked on several international trips to explore sustainable farming practices, including visits to Japan and Thailand to study fisheries and tuna farming. In July 2022, he visited a university in the Netherlands to learn about improving sustainable food production methods.
Ma’s interest in sustainable food production is likely driven by the growing global concern about food security and the impact of traditional agriculture on the environment. His new venture could play a role in developing innovative and sustainable solutions to these challenges.
Despite a significant drop in his net worth due to the setback caused by the disruption of the world’s largest initial public offering in 2020, Ma remains China’s fifth-richest person, with an estimated net worth of around $30 billion. His investment in sustainable food production signals his continued commitment to innovation and his belief in the potential of technology to address global challenges.