As per rumours, Chinese billionaire and Alibaba founder Jack Ma is missing. Many media houses reported that for over two months, the high-profile businessman has not been seen in public. Jack Ma did not make a presence in the final episode of his own talent show, Africa’s Business Heroes. As per a report by UK’s Telegraph, Alibaba founder was likely to be a part of the judging panel in November final, however, he was substituted by an Alibaba executive. Unexpectedly, Jack Ma’s picture was also deleted from the website. As per Financial Times, an Alibaba spokesperson had stated that Ma failed to attend the final “due to a schedule skirmish”.
This is to be taken into consideration that Ant Group, Jack Ma’s colossal business empire, has been under the scanner of Chinese government. On October 24, Jack Ma had delivered a speech criticising China’s regulation system for stifling innovation. And since then, he has been found missing. Also, he had called global banking rules an “old people’s club”. In the speech, Ma had stated that today’s financial system is the heritage of the Industrial Age. After a few days, Ant’s IPO was suspended. Before this, Ant’s IPO had already received approval from China’s securities watchdog. The Shanghai Stock Exchange justified the unexpected decision. It stated that Ant had reported “substantial problems such as the changes in financial technology regulatory environment”.
In December, an anti-monopoly investigation was launched by China against Alibaba. The Chinese government had ordered Ant Group to restructure its operations.