Beijing, January 4: Jack Ma, the founder of Chinese e-commerce giant, Alibaba has not been seen in public for two months now. One of the richest men in Asia, Ma had made a candid speech criticizing China's financial regulators and the state owned banks in October last year. Following which, the $37 Billion initial public offering of his company Ant Group was suspended by the authorities.Jack Ma's Net Worth Down by Almost $11 Billion Since October 2020 Amid China's Scrutiny.
According to the reports, Ma's criticism did not go well with the Xi Jinping-led Communist government in China and the authorities soon launched anti-monopoly probe into the Alibaba Group Holdings. His financial tech company Ant Group to scale back its operations, as per reports by Bloomberg. Zhong Shanshan Overtakes Jack Ma to Become China's Richest Person in Bloomberg Billionaires Index As His Net Worth Reaches $58.7 Billion, Here is All About the Vaccine Tycoon And Owner of Nongfu Spring.
Ma did not appear in the finale of his own talent show called 'Africa's Business Heroes.' He was one of the judges on the reality show panel. His photographs were removed from the show’s website and he did not feature in the finale promos as well.
Alibaba spokesperson had reportedly said, “Due to a schedule conflict Mr Ma could no longer be part of the finale judge panel of Africa’s Business Heroes earlier this year”
Jack Ma's net worth has gone down by almost $11 billion since the end of October as China stepped up scrutiny of his empire and the country's tech behemoths.
(The above story first appeared on LatestLY on Jan 04, 2021 10:57 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).