Jack Ma, the Chinese billionaire and co-founder of e-commerce giant Alibaba, has quietly made a new acquisition: a 28,100-acre property boasting trout streams, woodlands and a maple-syrup operation in New York’s Adirondacks.

Mr. Ma paid $23 million for the sprawling upstate New York property, which he bought principally for conservation purposes, but also plans to use as an occasional personal retreat, according to a spokesman.

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