- Yahoo Finance I mentioned that Jack Ma, the Chinese billionaire who founded Alibaba and Ant Group, has not been seen publicly in over two months.
- Late last year, Chinese regulators launched an antitrust investigation on Alibaba and filed regulations that stopped the Ant Group’s initial public offering.
- Other prominent businessmen, such as Ren Qiqiang, a retired real estate magnate, and Xiao Jianhua, an asset manager, have also disappeared after being criticized by Chinese regulators.
- Visit Business Insider’s homepage for more stories.
The Chinese billionaire and founder of Alibaba is noticeably absent from public life.
Yahoo Finance reported on Sunday That what has not been seen in public for more than two months. Ma missed appearing in November on the TV talent show he founded. Another Alibaba CEO replaced something, and the program’s website removed an image, The Telegraph reported.
Chinese organizers recently He opened an antitrust investigation At Alibaba, Ma’s e-commerce giant. Ant Group, the company’s financial services subsidiary, has angered Chinese banks, accusing them of stealing business from them. Country Enter the regulations In November it discontinued Ant Group’s initial public offering.
Ant and Alibaba Group could not be reached for comment.
Ma He is reported to have criticized global financial regulators At a conference in Shanghai in late October, he described them as an “old people’s club” inadequate to oversee Chinese technological innovation. Duncan Clark, chairman of the Beijing-based technology company BDA China, speculated that it could have been told of a “back off” due to the new rules. Reuters reported.
While Ma may try to stay out of the public eye during the investigation, his absence reminds us of other Chinese businessmen who disappeared after sparring with the organizers.
Ren Qiqiang, a retired real estate mogul, fell off the radar in March after accusing the Communist Party of mishandling the coronavirus pandemic. The New York Times reported. Beijing later ruled Ren, 69, 18 years in prison.
Xiao Jianhua, an asset manager, was kidnapped from a Hong Kong hotel in January 2017. Reuters reported. Xiao disappeared into Chinese custody, and parts of his company, Tomorrow’s Group, were later seized by the state. The Times reported in July. The regulators accused Xiao and other emperors of taking potential investors away from Chinese stock markets, The Guardian said.
Meng Hongwei, the former president of Interpol, disappeared in September 2018 during a trip to China from France. BBC reported. Last January, China sentenced him to 13 and a half years in prison Bribery fees.
Meng’s wife, who first reported the loss of her husband, To The Guardian in 2018 She believed that her husband was innocent and that his arrest was politically motivated.
“This is not justice,” she said, adding, “I think the anti-corruption campaign in China has already been damaged. It has become a way to attack the people who are your enemies.”
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