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Why was Chinese billionaire Jack Ma missing since October last year?

Jack Ma made his last public appearance on October 24 at an event in Shanghai, where he had claimed that China “stifles innovation” and had drawn a parallel between Chinese banks and “pawn shops”.

January 21, 2021 / 10:56 AM IST

Chinese billionaire and Alibaba founder Jack Ma made headlines across the world after he ‘resurfaced’ following months of disappearance from the public sphere.

The 56-year-old was seen addressing rural teachers via video conference.

He made his last public appearance on October 24 at an event in Shanghai, where he had claimed that China “stifles innovation” and had drawn a parallel between Chinese banks and “pawn shops”.

Alibaba's shares surge as Jack Ma reappears

Jack Ma was first reported “missing” when he did not turn up to judge the final episode of his own talent show. People realized he had been untraceable since October and that sparked numerous speculations as to where and why he might have disappeared. Some even suggested that he got arrested for calling out the many failings of the Chinese government.

It is now believed that the businessman has been laying low since October 2020 because he is being hounded by Chinese regulators. Chinese regulators have suspended the Ant Group’s $37-billion initial public offering and has also been cracking down on Jack Ma’s vast empire.
Moneycontrol News
first published: Jan 20, 2021 04:24 pm
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