Speculation began about the whereabouts arose billionaire Jack Ma, founder of Alibaba Group, after the successful entrepreneurs of China suddenly disappeared from public sight for more than 2 months.
A few days after China confirmed opening an antitrust investigation against Alibaba, the Western media discovered that billionaire Jack Ma has not been publicly visible for more than two months. The Telegraph UK newspaper reported on Tuesday that the founder of Alibaba did not appear in the final episode of his talent search program called “African Business Heroes “, aired on November 14, 2020. This is a program that offers the opportunity to compete for African businessmen, sharing a prize of 1.5 million USD for the winners. He should Jack Ma must be present in his capacity as judge, but he has been replaced by a different CEO of Alibaba, citing “scheduling conflicts”. His image was also removed from the show’s website, according to the Financial Times.
Before that, billionaire Jack Ma’s business empire Ant Group has been on the radar of Beijing authorities since his controversial remarks in Shanghai on October 24, 2020. At that time, he criticized the Chinese regulatory system for being too rigid, hindering the initiative, and comparing the rules of today’s world banking system as “the playground of the old”.More than a week later, the Chinese side forced Jack Ma to cancel Ant Group’s last-minute IPO plan, a stock listing worth an estimated 37 billion. USD. By the end of December last year, the country’s authorities officially opened an antitrust investigation against Alibaba, while asking Ant Group to restructure its operations.