Jack Ma, the Chinese billionaire and founder of Alibaba, who is under the scanner of the ruling Chinese Communist Party, has reportedly not been seen in public for several weeks. This has led to speculations that Ma could be missing. He also failed to appear as scheduled in the final episode of his own talent show, Africa’s Business Heroes, which gives budding African entrepreneurs the chance to compete for a slice of US $1.5 million. He last tweeted on 10 October last year.
Jack Ma was supposed to be part of the show’s judge panel, but was replaced by an Alibaba executive in the November final, UK’s Telegraph reported. His picture was also taken off the website. According to Financial Times, an Alibaba spokesperson said Ma was unable to take part in the judging panel “due to a schedule conflict.”
The 56-year-old hasn’t been seen publicly after officials hit back at him following an October speech in which he complained at a business conference that China’s regulators and state-run banks are hampering opportunities. “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,” he said.
Jack Ma Lost $11 Billion In Last Two Months Amid Increased Scrutiny By China: Report
China’s richest man and the co-founder of Alibaba Group Jack Ma has lost $11 billion in the last two months since Beijing began scrutinising his empire and other tech giants in the country. According to Bloomberg Billionaires Index, Jack Ma now owns a fortune of $50.9 billion, which has decreased from $61.7 billion earlier this year bringing him down to the 25th position on the list of the world’s wealthiest people.