Jessica Yun reported for Yahoo Finance on Sunday that Jack Ma, the founder of Alibaba, and And Ant group has not been seen for two months. He was to participate in the last episode of a TV show as a judge. But did not participate in the show. Two months ago, he criticize the Chinese regulatory system and after that, he disappeared from the scene. Now, people are questioning that Where is Jack Ma?
Why Jack Ma disappeared from the scene?
British news agency “Righters” reported that the billionaire entrepreneur of China Jack Ma criticized the Chinese regulatory system at the Shanghai forum at the end of October 2020, and he has been missing ever since.
Due to conflicts with regulatory officers of China Ma’s fintech of Ant group has lost $37000 million. In November 2020, The participation of Jack Ma as a judge in an African game show “The heroes of Africa” was changed, reported by financial times on 1 January 2021. Alibaba spokesperson told, that this change was made due to a conflict of schedule.
Until now, Jack was the richest man in China. He has $60 Million. But he suffered a loss of $12 in the previous two months due to strictness in regulatory rules. Due to this loss now Ma owns $50.6 and now he is the fourth rich man in China.
The news of Jack Ma’s absence gave rise to speculations on Twitter. People are asking, where is Jack Ma. The news of Jack Ma’s absence is not trending in China because there is strict censorship on sensitive topics. After the speech of October, the regulatory officers started a campaign against Alibaba. Also, they have started an investigation of antitrust against Alibaba. The establishment of a new company is also part of their plan. Regulatory officers will establish a new company as an alternative to Alibaba.
On Monday, Alibaba’s Hong Kong shares were fallen by 2.5% due to the disappearance of Ma.
In 2018 the billionaire entrepreneur of China and the founder of Alibaba Jack Ma announced his retirement from his post. After that in 2019 at a conference, he told that he will leave his post on the 20th birthday of the company.
Jack Ma was CEO for 10 years. After his retirement as a chief executive officer, he is a member of the board of governors and the founder of the company as well.
Also, Read It: Trump Will Lose All Twitter Followers