Posted: 14:33 GMT, 3 January 2021 | Updated: 3:18 PM GMT, Jan. January 2021

The Chinese tech billionaire behind Asia’s version of Amazon has reportedly not been seen publicly in more than two months after disregarding President Xi Jinping

Jack Ma, one of the most successful and outspoken tycoons in China, criticized the country’s financial supervisory authorities and state banks in a fire speech in October

He called for the reform of a system that “stifled business innovation” and compared global banking regulations to an “old people’s club”

The speech angered the Chinese government, which viewed Ma’s criticism as an attack on the Communist Party’s authority and led to an extraordinary curtailment of Ma’s business.

In November Beijing officials “disguised” Ma and suspended the $ 37 billion blockbuster IPO of his group of ants on the direct orders of President Xi, the Wall Street Journal reports

They then advised Ma to stay in China before launching an antimonopoly investigation against Ma’s Alibaba Group holding on Christmas Eve, so Bloomberg Beijing also ordered Ma’s financial technology company Ant Group to shut down

Ma then mysteriously disappeared from his Dragons’ Den-style TV show Africa’s Business Heroes just before the November finale, while his photo was removed from the Jury’s Jury website

An Alibaba spokesman told the Financial Times that Ma could no longer be on the jury “due to a scheduling conflict”

Jack Ma, one of China’s most successful entrepreneurs, criticized the country’s financial regulators and its state-run banks in an ardent speech in late October in Shanghai. It is believed that Ma has personally forfeited President Xi Jinping

His calls to reform a system that he claimed was stifling innovation is believed to have angered leaders who viewed the speech as an attack on the Communist Party

But weeks before the final, Ma tweeted that he couldn’t wait to meet the contestants. Since then, there has been no activity on the Twitter account of the father of three, who regularly saw several tweets a day

Beijing has a history of ruthless actions against its internal critics, and in March a real estate tycoon disappeared after calling President Xi a “clown” for his handling of the coronavirus crisis

Friends of Ren Zhiqiang said they could not contact him, and six months later he was sentenced to 18 years in prison for “voluntarily and truthfully” confessing to various corruption crimes

Xian Jianhua, a billionaire, was kidnapped from a Hong Kong hotel and taken to the mainland in 2017

He is said to be under house arrest more than three years later without having an official word on his location

The anti-monopoly investigation caused Alibaba’s shares to fall a quarter from their peak shortly after the October speech, wiping more than $ 10 billion from Ma’s paper fortune

It put Ma in third place on China’s richest people list, behind Colin Huang, executive director of Pinduoduo, and Pony Ma Huateng of Tencent Holdings

Ma now has an estimated current net worth of $ 631 billion on the Bloomberg Billionaires Index

Following the speech, Ma was “disguised” by officials in Beijing, and the initial public offering (blockbuster $ 37 billion) of his company Ant Group was suspended by President Xi personally, according to Wall Street diary (pictured while an event for the 20th Anniversary of Alibaba in Hangzhou singing a song)

On Wednesday, shares of Nasdaq-listed Pinduoduo rose 777 percent in New York, bringing market capitalization to nearly $ 220 billion

It was the second day in a row that the five-year-old startup topped the $ 200 billion mark

Huang’s wealth in China now stands behind Zhong Shanshan, chairman of bottled water giant Nongfu Spring, who recently completed a record-breaking $ 87 billion initial public offering in Hong Kong in September

The fate of the country’s largest e-commerce, delivery and social media platforms has been in limbo since Beijing drew up a document to combat the “platform economy” in early November

Despite being one of China’s most successful businessmen, Mr. Ma has increasingly argued with the regime over his preferences for a more open and market-oriented economy. So far, there is no evidence that he has been physically harmed

Until recently, he was a leading light on China’s unique approach to wealth creation by unleashing market forces in a tightly controlled communist framework

Alibaba founder Jack Ma speaks during the Alibaba anniversary celebration on Jan. September 2019 at the Hangzhou Olympic Center Stadium

Ma, who is married to Cathy Zhang (pictured), 55, has completely disappeared from the public eye – a sudden change that is all the more remarkable given his previously huge public profile

The English teacher turned business tycoon had rock star status and even played an invincible kung fu master in a star-studded film from 2017

And as tensions between the US and China intensified, Mr Ma was able to expand an olive branch by having a right-wing husband Joe Tsai 2000 fans donated to New York, prompting Donald Trump to say a thank you

But Ma’s payment firm Ant failed to go public in what was viewed by many as retaliation for his explosive speech in Shanghai in October

Since then, regulators have met with senior executives at Ant and ordered her to improve her corporate governance, regulatory compliance, and habit of using her size to drive competitors out of the market

In the process, Mr. Ma, who is married to 55-year-old Cathy Zhang, has completely disappeared from the public eye – a sudden change that is all the more remarkable given his previously large public profile

Share what you think

The views expressed in the above content are those of our users and do not necessarily reflect the views of MailOnline

We will automatically publish your comment and a link to the message on your Facebook timeline while it is published on MailOnline.To do this, we will link your MailOnline account to your Facebook account.We ask you to confirm this for your first post on Facebook

You can choose for each post whether it should be published on Facebook. Your data will be used by Facebook to provide you with tailored content, marketing and advertisements in accordance with our privacy policy

Jack Ma

World News – CA – Chinese billionaire Jack Ma has not been seen in public for TWO MONTHS

Source: https://www.dailymail.co.uk/news/article-9108421/Chinese-tech-billionaire-Jack-Ma-not-seen-public-TWO-MONTHS.html