Chinese billionaire and founder of Alibaba, Jack Ma, is feared to have gone missing after a contoversial speech he gave that was widely perceived to go against the Chinese Communist Party (CCP).
Ma even failed to appear in the final episode of his talent show, Africa’s Business Heroes, in which African entrepreneurs compete for a chance to win about Sh150 million.
The billionaire last posted a tweet on October 10, 2020 and has reportedly not been seen in public for more than two months fueling speculation that he has gone missing.
In the final episode of Africa’s Business Heroes in November, Ma was replaced in the judging panel by an Alibaba executive and his photograph taken off the show website.
Beijing has put his business empire, Ant Group, under heavy scrutiny since he delivered a controversial speech in Shanghai on October 24, 2020.
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In his speech, Ma criticised China’s legal regime for stifling innovation and he likened the global banking regulations to an old people’s club.
“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 at the time.
Ant’s IPO, which was valued at US $37 billion, was suspended and Shanghai Stock Exchange said that Ant had reported “significant issues such as the changes in financial technology regulatory environment”.
The move was seen as China’s bid to restrain financial institutions from getting too big as it also launched an anti-monopoly probe into Alibaba in December and told Ant Group to streamline its operations.
Ma donated millions of face masks to Africa, Europe, US as well as the World Health Organisation (WHO) to enhance efforts to tame the Covid-19 pandemic.
Through his Jack Ma Foundation, he has engaged in charity work and poured hundreds of millions of dollars into education, entrepreneurship, female leadership and the environment.
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