Type Here to Get Search Results !

World News : Where is Jack Ma? Questions Arise About The Billionaire’s Whereabouts

0
Jack Ma Twitter Profie Photo
 
Jack Ma, the Chinese billionaire currently under scrutiny by the government of China, has reportedly not been seen in public for several weeks. This has led to speculations that Ma could be missing.

The scrutiny came down heavily on him after JackMa had gone on to publicly criticize the Chinese regulators and had called the country’s banks “pawnshops”. Ma, who once held the tag of wealthiest man in Asia, has seen his net worth tumble. 

JackMa was scheduled to appear for the filming of his own talent show – Africa’s Business Heroes but was instead replaced by another Alibaba executive. 

Alibaba and AntGroup, founded by Ma, are currently faced with an antitrust probe for alleged monopolistic practices.

The Chinese e-commerce giant told Financial Times that Ma couldn’t appear on the show due to a conflict in schedules. 

Reports also indicate that Alibaba had earlier been warned by the regulators for its practice where “merchants are required to sign exclusive cooperation pacts preventing them from offering products on rival platforms.”

And that wasn’t all. Earlier in November 2020, Alibaba and AntGroup's $34 billion initial public offering (IPO) was suspended by the Shanghai Stock Exchange.  

AntGroup, touted to be the world’s biggest IPO, was scheduled for a dual listing on November 5 — on Shanghai and Hong Kong bourses and it was halted in China with less than 48 hours to go.

According to the Bloomberg Billionaires Index, JackMa has lost over $11 billion in the last three months – from the highs of $61 billion in October 2020 to $50.6 billion currently.

Source: Bloomberg :  Business Insider India

Post a Comment

0 Comments

Top Post Ad

Below Post Ad