The most profitable business of Alibaba is Taobao. And Jack Ma has already separated it from Alibaba and go public it with the different name in somewhere else. The practice of Alibaba is to make money from the transaction , not from selling the goods. Now the profit from transaction does not go to Alibaba anymore, so, what do investors expect in terms of return or value of BABA? So , definitely, Jack ma is stealing the US investors money. Over the long term, Jack Ma will do the same if he believe any part of BABA become profitable in the future, and separate it from BABA.