Since Ma hit out at the ruling Communist regime in China in October, the Alibaba founder has reportedly not been seen in public.
Chinese Billionaire Jack Ma has been missing in action if believed multiple media reports. Since Ma hit out at the ruling Communist regime in China in October, the Alibaba founder has reportedly not been seen in public.
Speculations are rife since the Chinese Businessman failed to appear in the final episode of his own talent show, ‘Africa’s Business Heroes’. The show focuses on giving budding African entrepreneurs a space to compete for a US $1.5 million prize.
He was replaced as a judge in the show’s finale, and his picture was also removed from the webpage, the Financial Times reported. It also said that a promotional video was aired without Jack ma.
In the November final, Ma was apparently replaced by an Alibaba executive. Ma was unable to take part on the judging panel “due to a schedule conflict”, the Financial Times quoted an Alibaba spokesperson as saying.
The 56 years old tycoon, who has over 612K followers on Twitter, last posted on the micro-blogging platform on October 10.
I am honored to partner with HRH The Duke of Cambridge @KensingtonRoyal & other global leaders and organizations to support the @EarthshotPrize and tackle the environmental challenges we all face. Together, we can protect our planet from climate change! https://t.co/0ax1imIZMC pic.twitter.com/EN6yissNGI
— Jack Ma (@JackMa) October 10, 2020
Ant Group, Ma’s fintech venture, had come under the scrutiny of Chinese authorities after he delivered a controversial speech in Shanghai on October 24. In his speech, he had criticised China’s regulation system for curbing innovation and compared global banking rules to an “old people’s club”.
“Today’s financial system is the legacy of the Industrial Age,”Ma was quoted as saying in the speech.
“We must set up a new one for the next generation and young people. We must reform the current system.”
China’s top market watchdog, in December last year, opened an investigation into alleged anti-competition practises by Alibaba. The country has now laid out ‘rectification plan for his fintech venture Ant Group, the local media had reported.
The People’s Bank of China, the country’s central bank, “summoned Ant Group for regulatory talks on December 26th, announcing a sweeping plan for the fintech firm to ‘rectify’ its regulatory violations”, according to a report in TechCrunch.
In India, Paytm and its e-commerce arm Paytm Mall, food delivery start-up Zomato, online grocer BigBasket, online retailer Snapdeal and logistics firm Xpressbees have Alibaba’s investments in their ventures.
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