Chinese billionaire Jack Ma, the founder of Alibaba and Ant Group, is suspected missing, Jessica Yun reported for Yahoo Finance.
The 56-year-old businessman has not been seen in public for larger than two months, per the report.
Ma has been in the spotlight simply recently as China has cracked down on his enterprise empire. In late December, Chinese regulators launched an antitrust investigation into Alibaba, the nation’s largest e-commerce agency that some seek the advice of with as “the Amazon of China.” And in November, China had launched a sequence of newest legal guidelines that put a halt to what would have been the large preliminary public offering of Ma’s fintech agency, Ant Group.
The new tips obtained right here weeks after Ma criticized China’s financial regulatory system at a conference in Shanghai in October. At the conference, Ma reportedly dismissed the worldwide financial legal guidelines utilized by China as “an old people’s club” and talked about, “We can’t use yesterday’s methods to regulate the future.”
Blair Silverberg, CEO of debt-financing startup Capital knowledgeable Business Insider’s Katie Canales in November that the model new legal guidelines had been launched “so the government can assert its supremacy over Jack Ma.”
In November, Ma was modified as a determine on the African experience current he based mostly, “Africa’s Business Heroes,” the Financial Times reported. The experience current did not immediately reply to Business Insider’s request for comment, nonetheless, an Alibaba spokesperson knowledgeable Business that Ma may not be on the judging panel for the current’s finale — which was filmed in November nonetheless has not however been launched — “due to a scheduling conflict.”
“We do not have one thing to
Ma stepped down as chairman of Alibaba in 2019.
Until simply recently, Ma was China’s richest man with a fortune that reached larger than $60 billion. Ma’s net worth has nonetheless taken a $12 billion hit over the earlier two months as China has tightened tips for the financial know-how enterprise. Today, Ma is valued at $50.6 billion, making him the fourth-richest particular person in China, in holding with the Bloomberg Billionaires Index.
As data of Ma’s suspected disappearance has unfolded, an August 2019 prediction about Ma by one different billionaire Chinese businessman has been recirculating on social media.
In the video interview, Guo Wengui, who fled China as a fugitive in 2014 and claims to be a whistleblower exposing corruption in the nation, talked about that in the next 12 months, Ma would likely end up in jail or lifeless because of China wishes to “take back” Ma’s worthwhile Ant Group.
Last week, the Chinese authorities ordered Ant Group, which owns China’s largest digital value platform Alipay, to scale back its operations after expressing concerns that its firm governance was “not sound.”
A spokesperson for Ant Group did not immediately reply to Business Insider’s request for a comment for this story.
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