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He also did not appear on the latest episode of his own reality show, African Business Heroes, which gives young African entrepreneurs the opportunity to compete for a fraction of US $ 1.5 million.
He was supposed to be one of the judges, but was replaced by Alibaba’s chief executive at the end of November, the British Telegraph reported. His image has also been removed from the website.
An Alibaba spokesman said Ma was unable to participate in the jury “due to a conflict in the schedule,” according to the FT.
Ma’s business empire, Ant Group, has been under Beijing’s scrutiny since Ma delivered a controversial speech in Shanghai on October 24 criticizing China’s regulatory system for stifling innovation and comparing global banking rules to a “club of seniors”.
“The current financial system is a legacy from the industrial age,” Ma said in a speech.
“We need to establish a new one for the next generation and the youth. We need to reform the current system.”
Just over a week later, Ant’s IPO (estimated at a record $ 37 billion or A $ 48 billion), which has already received the green light from China’s securities supervisory authority, was suspended. , and the Shanghai Stock Exchange said Ant reported “major issues such as changes in the financial technology regulatory environment.”
But veteran US investor Mark Mobius said the move was designed to prevent financial institutions from getting too big.
“I think the Chinese government stepped in because it realized that they have to regulate these companies, so they don’t … get too big,” he told CNBC.
“The Chinese government is realizing the fact that it cannot allow these companies to dominate a particular sector, especially financial.”
Chinese authorities launched an antitrust investigation against Alibaba in late December and told Ant Group to restructure its business.
Ma donated millions of masks to Europe, the United States and the World Health Organization in an attempt to stop the pandemic.
The billionaire is also involved in charity work, and the Jack Ma Foundation focuses on education, entrepreneurship, women’s leadership and the environment.
The foundation distributed or pledged more than $ 300 million, Forbes reported.
Mao’s last tweet was on October 10 last year.
Kurir.rs/Yahoo
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