Jack Ma, the Chinese billionaire and founder of Alibaba, who is under the scanner of the ruling Chinese Communist Party (CCP), has not been seen in public for several weeks. This has led to speculation that Ma might be missing. He also didn’t appear as scheduled on the final episode of his own talent show. African business heroes, which gives budding African entrepreneurs the opportunity to compete for a share of $ 1.5 million. He last tweeted on October 10 of last year.
Where’s Jack Ma?
Jack Ma was supposed to be part of the show’s judging panel, but was replaced by an Alibaba executive at the end of November, the UK’s Telegraph reported. His photo was also taken from the website. According to the Financial Times, an Alibaba spokesman said Ma was unable to participate in the judging panel “due to a scheduling conflict.”
The 56-year-old has not been seen publicly after officials responded to him following a speech in October in which he complained at a business conference that China’s regulators and state-owned banks are blocking opportunities. “The current financial system is the legacy of the industrial age,” Ma said in the speech. “We must create a new one for the next generation and the youth. We must reform the current system,” he said.
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Chinese regulators order Ant Group to rectify business
In November, officials in Beijing rebuked Ma and suspended his Ant Group’s $ 37 billion initial public offering on the direct order of President Jinping, the Wall Street Journal reported. He was then advised to remain in China before launching an antitrust investigation at his Alibaba Group Holding on Christmas Eve, according to Bloomberg.
According to the Associated Press, the measures are part of the Communist Party’s efforts to curb the influence of tech companies as they enter the financial services sector during a time when Beijing seeks to reduce financial risks. Chinese regulators also ordered Ant Group, the world’s largest fintech company, to rectify its business and comply with regulatory requirements amid increased scrutiny of antitrust practices in the country’s internet sector.
Alibaba and a company spun off by Tencent Holding Ltd. were fined last month for failing to seek official approval before proceeding with some acquisitions.
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