Billionaire Jack Ma Reportedly Not Missing, Just Avoiding Public Limelight; Alibaba Shares Jump

151
SHARE
Alibaba Chairman Jack Ma

Jack Ma, the popular Chinese tech billionaire and co-founder of Alibaba Group Holding Ltd (NYSE: BABA) is reportedly just avoiding public appearances and is not missing, according to a report from the Wall Street Journal.

This week, a lot of people on social media and the press have been wondering and speculating about the whereabouts of Mr. Ma, who suddenly disappeared from public view following a crackdown on his companies by the Chinese government.

This week, several media outlets including the USA Herald reported that the Alibaba co-founder hasn’t been seen in public since October when he delivered a speech during a financial forum in Shanghai.

Signup for the USA Herald exclusive Newsletter

During his speech, Mr. Ma criticized the”pawnshop mentality” of China’s state-owned banks. He compared the country’s global financial regulators to the “old people’s club,” which he believes is hindering innovation.

Chinese regulators’ crackdown on companies controlled by Jack Ma

Following his criticisms, China’s securities regulator suspended the planned initial public offering (IPO) of Ant Group formerly known as Ant Financial in the Shanghai Stock Exchange and the Hong Kong Stock Exchange.