Alibaba Group founder Jack Ma, who has been under China government’s scrutiny since the abrupt suspension of Ant’s blockbuster $37 billion initial public offerings (IPO) in Shanghai and Hong Kong has not been seen in public for more than two months,(via theweek.in)
Reports suggest that Jack Ma did not even shown up for the final episode of his own talent show, Africa’s Business Heroes in November and an Alibaba executive had taken his place at the show.
The 56-year-old hasn’t been seen publicly after officials hit back at him following an October speech in which he complained at a business conference that China’s regulators and state-run banks are hampering opportunities. “Today’s financial system is the legacy of the Industrial Age,” Ma said in the speech. “We must set up a new one for the next generation and young people. We must reform the current system,” he said.
Ma’s fortunes too have tumbled in the past two months. According to the Bloomberg Billionaires Index, Ma has lost over $11 billion—from the highs of $61 billion in October 2020 to $50.6 billion currently.
