Chinese billionaire Jack Ma suspected missing amid conflict with China government

Alibaba founder and Chinese billionaire Jack Ma has grabbed the limelight as he has been suspected missing for over two months after coming into conflict with the Chinese government. He was set to appear for the filming of his own talent show,  ‘Africa’s Business Heroes’ in November but was replaced by another Alibaba executive, Lucy Peng, to judge the show.

Jack Ma’s picture was also taken off the website. The show gives the budding African entrepreneurs a chance to compete for a slice of US $1.5 million.

On October 24, Jack Ma in an incendiary speech in Shanghai criticized China’s “pawnshop financial regulators and state-owned banks. “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,” he said.

According to Bloomberg, Jack Ma was later, then advised to remain in China before launching an anti-monopoly investigation into his Alibaba Group Holding on Christmas Eve. “Due to a schedule conflict Mr Ma could no longer be part of the finale judge panel of Africa’s Business Heroes earlier this year (2020),” an Alibaba spokesperson said.

Ma’s speech did not go well with the Chinese government, and the officials in Beijing dressed down Ma and suspended the $37billion initial public offering of his Ant Group on the direct order of President Xi in November, reported The Wall Street Journal.

Jack Ma was involved in charity work and has donated millions of face masks to Europe, the US, and the World Health Organisation during the global coronavirus crisis.

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