Alibaba Group owner Jack Ma, one of the richest businessmen in China, has been reported by the Chinese media to be under the supervision of the Chinese government after being reported missing for the past two months. There is also speculation that Jack Ma has been arrested or placed under house arrest. China has a track record of not disclosing information about the arrests of celebrities, so 'supervision' could mean jail.
Hong Kong-based The Asia Times quoted People's Daily, the mouthpiece of the Chinese Communist Party, as saying that they had been ordered not to leave the country. The People's Daily also said in an excerpt from November that Ma cannot take Alibaba to such heights without Chinese government policies. Jack Ma has not appeared in any public event or TV show since November 2020, after which reports of his disappearance began to appear.
Alibaba Group owner Jack Ma, one of China's richest businessmen, has been reported missing for the last two months. Jack Ma has not appeared in any public show for almost two months. According to media reports, Jack Ma criticized the speech given in October last year by Chinese financial regulators and state-run banks. After this criticism, he also had a dispute with Chinese President Xi Jinping and since this dispute, he has not been seen for almost two months.
Who is jack ma
One of the largest IT companies in China is the founder of Alibaba. According to Bloomberg, Alibaba is Jack Ma's famous businessman and famous for his speech. He once taught in a school and is now a billionaire businessman. Alibaba is one of the world's largest e-commerce companies with millions of users. Alibaba's turnover is also in the billions. Its three main websites are Taobao (Tmall) and Alibaba.com (Alibaba.com). Ant Group has created Alipay, a mobile payment system (mobile wallet) in China. The company has also invested in Paytm in India.
Orders not to go out of china
In November last year, Chinese authorities had suspended a $ 37 billion IPO of their ANT group, giving a big blow to Jack. According to media reports, after this action, Jack Ma was asked not to leave China until the ongoing investigation against Alibaba Group is completed.
Alibaba company owner Jack Ma missing for two months, dispute with Chinese President
Did not even appear in the TV show
Jack Ma has also not appeared in his TV show 'Africa's Business Hero'. His place in the program has been sent to someone else. When not appearing in the TV show, a spokesman for Alibaba said that he did not join the TV show due to a dispute over the schedule.
What is the whole matter?
The Chinese government is investigating the Alibaba Group for misusing monopoly. Alibaba said that they have also been sent a notice to the Ant Group through SAMR. This marked a major setback for Jack-Ma's e-commerce company Alibaba.com and Fintech Empire.
Criticized the government
China's financial regulators and banks have been heavily criticized by Jack Ma, the owner of e-commerce company Alibaba. Jack Ma's assets have decreased by $ 11 billion in the last two months following the actions taken by the Chinese government. Jack Ma had criticized China's financial regulators for not taking risks at all. He accused the banks of China of behaving like usurpers. His point was that Chinese banks do not lend without mortgaging anything. Significantly, most of the banks in China are governmental, so their comments were considered to be directed against the government.
Action started on Alibaba and Ent Group
China has initiated action on Jack Ma's e-commerce company Alibaba and its financial business arm Ant Group. This action is being speculated all over the world. At the same time, China's market regulator says that it has initiated this action against Alibaba for attempts to establish a monopoly on the market. Due to the action of the Chinese government, there is such fear in the companies that in just two days, the big companies of China have lost about Rs 15 lakh crore. Some time ago, experts believe that it seems more action was taken in return.
The last time the Chinese government stopped the listing
The Chinese government recently stopped listing of the new bank Ent Group in the stock market to weaken Jack Ma. Before this move, the group was valued at $ 316 billion. Ent Group's IPO (Initial Public Offer) was getting tremendous success. The Chinese regulator, while enlisting the listing, said that the Ent Group needed to improve its businesses. Ant Group is the world's largest financial technology company.
The regulator had pointed out deficiencies
The statement said that the ent group lacked governance mechanisms. The group has ignored regulatory compliance requirements and engages in regulatory arbitration. It was also said that the company has used its position in the market to outshine its rivals and has harmed the rights and interests of consumers.
Property was increased in Corona crisis also
According to Harun Research's report, Jack Ma's wealth grew by 45 percent despite Corona. At the same time, after the action taken by the Chinese government, in the two months since the end of October, the wealth of billionaire Jaime Ma has fallen by $ 11 billion. Jack Ma's wealth in the e-commerce sector rose to $ 61.7 billion this year, but now his wealth stands at just $ 50.9 billion. According to the Bloomberg Billionaires Index, Jack Ma slipped to the 25th spot in the list of the world's 500 richest people.
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