Jack Ma, the founder of Alibaba reportedly gone missing for the last two months. Meanwhile, he was under the Chinese government’s investigation since the sudden suspension of Ant’s blockbuster $37 billion initial public offerings (IPO) in Shanghai and Hong Kong. Further, the report suggests that he has no public presence since then. In fact, he was absent in the final episode of his own talent show, Africa’s Business Heroes in November. Instead of him, another executive from Alibaba governed that particular episode of the show.
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Speculations suggest that Jack MA’s speech in October 2020 regarding slamming China’s regulation system for stifling innovation might be behind his sudden disappearance.
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At present, Alibaba and its adversaries like, Tencent Holdings are confronting huge pressure from regulators for storing up a huge number of clients. Additionally, gaining control over pretty much every part of the daily life in China. In this regard, a month ago Chinese antitrust authorities dispatched an inquiry into Ma’s online business aggregate Alibaba Group Holding. On the other hand, the national bank of China had requested this group to shake up its loaning and other consumer finance operations.
Previously, The Chinese regulators unexpectedly suspended Ant’s blockbuster $37 IPO in Shanghai and Hong Kong. Even though, Ant Group IPO achieved the reputation as the world’s greatest public contribution. Moreover, the shares were booked to be simultaneously recorded on Shanghai and Hong Kong bourses, on November 5.
However, the offerings halted in China under 48 hours prior to going public.
