Chinese billionaire and Alibaba Group founder Jack Ma is suspected to be missing following his mysterious disappearance from the public eye for over two months after Beijing’s aggressive crackdown on his business empire.
Speculations about his whereabouts intensified when Ma failed to appear as judge in the final episode of his own show, Africa’s Business Heroes.
The flamboyant co-founder Ant Group has not made a public appearance since Ant’s initial public offer (IPO) was suspended in November. He was advised not to leave the country by the government.
Formerly known for his government connections and rare outspokenness, Jack Ma’s trouble with the Chinese government began when he gave a speech criticising China’s regulators and state-owned banks for their ‘backwardness’.
His remarks are said to have infuriated Beijing’s party brass, leading to Chinese President Xi Jinping to personally order a halt to the offering by Alibaba’s financial affiliate company, Ant Financial, which was set to raise USD 34 billion in the biggest stock-market debut in history, reported Hollywood Reporter.
The country’s government has also launched an anti-monopoly investigation into Alibaba in December 2020 after regulators earlier told Ant Group to restructure its operations.
Jack Ma’s public image has also drastically shifted following his remarks, with people calling him ‘villain’, ‘bloodsucking ghost’ and more.
Of late, China has been stepping up efforts to curb the influence of big tech companies like Alibaba and Tencent. In November, China released draft regulations aimed at preventing these firms from colluding to share sensitive consumer data, forming agreements to block out smaller rivals and engaging in other anti competitive behaviour, reported The Wall Street Journal.
