Alibaba Boss Buys Rp 2.3 T Apartment in the US, What’s This Sign?

Jakarta, CNBC Indonesia – Alibaba co-founder Joe Tsai is rumored to be the mysterious buyer behind an apartment deal worth US$ 157.5 million (Rp 2.28 trillion, assuming an exchange rate of Rp 14,500/US$) in the most prestigious condominium tower in Manhattan, USA.

Launching CNBC International, Tuesday (20/7/2021), Tsai purchased two full-floor condominium apartments at 220 Central Park South in two transactions, according to people close to the transaction.

The transaction is believed to be the third most expensive home ever sold in the United States. The most expensive home ever sold in America is in the same building, which was purchased by Ken Griffin for four floors for $238 million in 2019.

Tsai purchased two floors, floors 60 and 61, and has views of Central Park and midtown Manhattan. The deal also includes a studio apartment on the 18th floor, possibly for staff.

After the deals made by Griffin, then the purchases by Sting and Daniel Och, 220 Central Park South continued to soar in value even during the pandemic and was over 90% sold out.

The units purchased by Tsai both sold for more than their original selling price. Floor 61 sold for US$ 51.4 million last year, while floor 60 sold for US$ 50.9 million.

So far, Tsai’s spokesperson has yet to comment.

The purchase comes at a sensitive time for Tsai and Alibaba. Alibaba shares have fallen by a third since October, and Chinese authorities are cracking down on the country’s big tech companies to curb the power and reach of their data.

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Alibaba Tsai co-founder Jack Ma has largely stepped back from public life after he criticized Chinese regulators and Beijing canceled the initial public offering of its fintech giant Ant.

Tsai remains the executive vice chairman and second-largest shareholder of Alibaba. He is worth an estimated $10 billion, according to the Bloomberg Billionaire’s Index.

Tsai was born in Taiwan, attended school in New Jersey and lived and worked in New York. In the mid-1990s worked as a lawyer and private equity executive.

After making his fortune in China on Alibaba, he divides his time between San Diego and Hong Kong. He holds both Canadian and Hong Kong passports.

Tsai bought a minority stake in the Brooklyn Nets in 2017 and bought the rest of the team in 2019 along with the operating rights to Barclay’s Center for a total of more than $3 billion. Tsai also sits on the Chinese NBA board and owns the WNBA’s New York Liberty.

Tsai often attends Nets games and told the New York Post that she plans to become more visible in New York after buying the team.

New York is an amazing city. I have an affinity for New York,” he told The Post in 2019.

“My first job after law school was in New York. I met my wife here. So New York for me is my second home,” he explained.

[Gambas:Video CNBC]


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