Chinese billionaire and also Founder of Alibaba, Jack Ma still Missing

Chinese billionaire and also Founder of Alibaba, Jack Ma still found Missing

From the reports gathered, A Chinese Buisnessman(Jack ma)and also a Billionaire is still not found after 2 months her was declared missing. 

It was also stated that Jack ma who is also the Founder of Alibaba has failed to appear in his own talent show (Africa Buisness heroes which African Entrepreurs the chance to compete for a sum of $1.5million.

Jack Ma was supposed to be one of the Judge, but was replaced by an Alibaba executive in the November final,. His picture was also taken off the website.

According to An Alibaba spokesperson he said Jack Ma was unable to take part on the judging panel “due to a schedule conflict”.

Jack Ma’s business empire, Ant Group, has been under Inspection by Beijing ever since Jack delivered a controversial speech in Shanghai on 24 October that criticised China’s regulation system for Causing innovation and likened global banking rules to an “old people’s club”.

“Today’s financial system is the legacy of the Industrial Age,” Ma said in the speech.

“We must set up a new one for the next generation and young people. We must reform the current system.”

Little over a week later, Ant’s IPO (valued at a record-setting US $37 billion or AU $48 billion), which had already received the green light from China’s securities watchdog, was suspended, with the Shanghai Stock Exchange saying Ant had reported “significant issues such as the changes in financial technology regulatory environment”.

But US veteran investor Mark Mobius said the move was designed to curtail financial institutions from getting too big.

“I believe the Chinese government stepped in because they realised that they had to regulate these companies, so that they don’t … get too big,” he told the CNBC news.

“The Chinese government is waking up to the fact that they cannot allow these companies that dominate a particular sector and particularly the financial sector.

Chinese authorities launched an anti-monopoly investigation into Alibaba in late December and told Ant Group to restructure its operations.

Ma has donated millions of face masks to Europe, the US and the World Health Organisation in a bid to stem the pandemic.

The billionaire is also involved in charity work, with the Jack Ma Foundation focused on areas of education, entrepreneurship, female leadership, and the environment.

The Foundation has distributed or pledged more than US $300 million, Forbes reported.

Ma’s last tweet was on 10 October last year when he posted that he partnered with the HRH The Duke of Cambridge.

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