Is Jack Ma, Chinese Billionaire and Founder of Alibaba Group Missing?

The founder of Alibaba, Jack Ma, has been away from the public since late October as Chinese authorities crack down on his corporate empire.

Jack Ma is missing
Jack Ma Might be missing. Twitter Images

One of the wealthiest Chinese men and the e-commerce giant founder, Alibaba, Billionaire Jack Ma, has been missing. According to a Yahoo Finance article, he has not been publicly seen for two months now. In a speech in Shanghai, 24 October, Jack Ma’s disappearance followed his economic change call.

According to Yahoo Finance, Ma said: “Today’s financial system is the legacy of the Industrial Age. We must set up a new one for the next generation and young people. We must reform the current system.”

Jack Ma’s presence was expected at his series finale of November’s Africa’s Business Heroes’ competition for African entrepreneurs. An Alibaba executive replaced him. The Chinese government scrutinized Ant Group and Alibaba Corporation, the trading firms Jack Ma had spun out from Alibaba. According to Yahoo Finance reports, Alibaba is encountering an antitrust investigation that started in December, while they have suspended the Ant Group’s IPO. They ordered the business to restructure and reverse its lending conditions, as well as other consumer finance enterprises, including the formation of a new holding firm.

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With his net worth at $58.4 billion, Jack Ma donated millions of dollars to help fight the coronavirus pandemic. Ma also pledged to donate the Wuhan Coronavirus Vaccine Creation $14.4 million from his foundation. In the Peter Doherty Institute for Infection and Immunity in Australia, Ma has also pledged an unprecedented $2.15 million for vaccination production. The inquiries made to Alibaba regarding the disappearance of Jack Ma were not responded to immediately.

The shares listed in Alibaba’s Hong Kong declined by 2.15% on Monday. Social media is hoping that the news about Jack Ma missing becomes a false alarm when he shows up and in one piece.

About Faith Sanyu

Faith SanyuI write about world economies and business, the humorous and sarcastic side of politics and world events, lifestyle, religion/beliefs and culture, health, agriculture, history, people's well-being, entertainment, fashion, and humanitarian works.

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