In November 2020, Ma’s Ant Group’s $ 37 billion IPO was suspended.
The Chinese business tycoon and Asia’s richest figures, Alibaba’s founder, Jack Ma, has not been seen at any public event for the past two months. Ma criticized the Chinese government in October last year. According to reports, Jack Ma has not been seen in any public event since then. At the same time, Ma did not appear in the final episode of his talent show.
Criticism of the Chinese government
Jack Ma, one of China’s most successful tycoons, criticized the country’s financial regulators and state-owned banks in a speech in Shanghai in October. Ma had called for reforms in the system and called the Global Banking Regulation a ‘club of old people’.
This criticism of Jack Ma was exasperating to the Chinese government. In November, Ma’s Ant Group’s $ 37 billion IPO was suspended.
According to reports, this was done on the directive of Chinese President Xi Jinping.
Beijing also ordered Ma’s financial tech company, Ant Group, to roll back its operations. Jack Ma was asked to remain in China until the investigation was completed. The day before Christmas, Beijing launched an anti-monopoly investigation into Alibaba Group Holding.
Subsequently, Alibaba shares declined. This made Ma third in the list of China’s richest people. Next to them are Colin Huang, chief executive of Pinduoduo and Pony Ma Huateng of Tencent Holdings.
Ma was to appear as a judge in the final episode of the talent show ‘Africa Business Hero’, but he did not attend it. His photo was also removed from its website. Jack Ma has created this show for the emerging businessman of Africa.
An Alibaba spokesperson told the Financial Times that “Jack Ma will not be able to be part of the ‘Africa Business Heroes’ final judge panel because of the scheduling collision.”
Missing from twitter too
Jack Ma is not only missing from public events, but he is also not present on Twitter. Ma’s last tweet is on October 10, in which he expressed happiness over being part of the ‘EarthShot Prize’ Prize Council.
Help in corona epidemic
Jack Ma came forward to help after the corona virus epidemic surfaced. He donated millions of masks, test kits and ventilators to different countries. He sent help to Argentina, Brazil, Chile, Cuba, Equador in South America. At the same time, in countries like Bangladesh, Afghanistan, Nepal, Pakistan, Maldives and Sri Lanka in Asia, Jack Ma sent the help of PPE kits, masks and ventilators.