Speculation about the whereabouts of Chinese billionaire Jack Ma has spread following reports that the top businessman has not appeared in public for more than two months.
The founder of Alibaba also failed to make an appearance in the final episode of his own talent show, Business Heroes in Africa, which gives growing African entrepreneurs the opportunity to compete for a $ 1.5 million slice.
I was supposed to be part of the judging but was appointed by an Alibaba executive at the November finals. His picture was also removed from the website.
Alibaba spokesman told the Financial Times that I was unable to attend due to a “schedule conflict”.
Ever since I gave a controversial speech in Shanghai on October 24, my business empire, the Ant G Group, has been under scrutiny in Beijing, criticizing China’s regulatory system for suppressing innovation and equating global banking laws to an “old society.”
“The current financial system is the legacy of the industrial age,” I said in the speech.
“We need to create something new for the next generation and young people. The current system needs to be reformed. ”
A week later, the Shanghai Stock Exchange said it had suspended the initial public offering (US $ 37 billion or US $ 48 billion) of the ant, which received a green light from China’s securities watchdog. Factors such as changes in the financial technology regulatory environment.
But Mark Mobius, a veteran U.S. investor, said the move would prevent financial institutions from growing
“I believe the Chinese government understands that these companies need to be regulated so that they do not grow,” he told CNBC.
“The Chinese government warns that these companies should not be allowed to dominate any sector, especially the financial sector.”
Chinese authorities launched an anti-monopoly investigation in Alibaba in late December and told AntG Group to restructure its operations.
I have donated millions of masks to Europe, the United States and the World Health Organization to fight the plague.
The Jack Ma Foundation focuses on education, entrepreneurship, women leadership and the environment, and is also involved in charity.
According to Forbes magazine, the foundation has been redistributed or repurchased for more than $ 300 million.