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Monday, October 25, 2021

Where Is China’s Richest Tycoon Jack Ma?

Jack Ma may be “laying low” at the moment after his comments against China’s government regulators

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Ishita Chakraborty
A computer engineer who has a passion for writing, a hodophile, social activist, youth activist for PETA India, and a linguaphile. A journalist covering Social issues & United Nations initiatives for transcontinental times.

CHINA: Alibaba founder and Chinese billionaire Jack Ma’s absence in the past two months has fueled social media speculations over his whereabouts. The speculations began last month after he missed the final episode of a talent show named ‘Africa’s Business Heroes‘. Ma had started this talent show and was a judge over there. In the last episode, Lucy Peng, an Alibaba executive replaced Ma as the judge.

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There have been many gossips about Ma’s whereabouts and his disappearance. The disappearance of the Chinese billionaire has fuelled many speculations, including some that alleged that he has been arrested. However, some leading sources are now claiming that Ma may be “laying low” at the moment after his comments against China’s government regulators. According to a media report, Ma is most likely in Hangzhou whether the headquarters of Alibaba is located.

Ma’s conflict with the Chinese government backfired after he called regulators too conservative in an October 24 speech. In the speech, he urged the government to be more innovative and creative. Due to this, the stock market debut of Ant Group (an online finance platform by Alipay) was halted by Chinese financial regulators on November 3.

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The share price of Alibaba had also hit an all-time low that has cost Ma his status as China’s richest tycoon. Meanwhile, Ma continues to face heat from the Chinese government for his comments. While Ma had stepped down as Alibaba CEO in 2019, he is a part of the company’s partnership. Ma is also one of the biggest shareholders of the Alibaba Group.

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