Wednesday, May 22, 2024

Where is Alibaba founder Jack Ma?

  • Not traced since late October
  • Happened after China denied Ant’s $37 billion stock debut
  • Missing after he criticised China’s Jinping govt.

Beijing: Chinese Billionaire Jack Ma’s missing mystery deepened after he was not seen since late October. Alibaba founder was last seen in public in October where he criticised China Government’s financial regulatory system. Of late, he even disappeared as a judge from a realty show which was created by him, leading to speculations.

Alibababa owned Ant group’s $37 billion stock debut in Shanghai and Hong Kong which was halted by Jing ping on regulatory changes. This happened just two days before schedule of World’s largest initial public offering. Even Jack and senior executives were summoned by Chinese regulators for talks.

There were speculations that Chinese Government was behind this disappearance. Even for the final show of “Africa’s Business Heroes,” a Dragon Den-style TV contest, Jack Ma was replaced by former English teacher as judge in the final. He was left out from promo video and his photograph was removed from judging panel. Jack Ma after creating Alibaba, a dubbed Asia’s Amazon and Ant group faced antitrust probe for monopolistic practices. He came down on Chinese banks calling them as “Pawn Shops” His fortunes tumbled in past two months who lost over$11 billion as per Bloomberg Billionaires.

Currently Jack Ma companies are under Chinese scrutiny and Chinese regulators have ordered Ant group to rehalt parts of his business and return to its payments origin. Shanghai Stock exchange also suspended Alibaba’s $34 billion intital public offering(IPO).


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