in November last year the Chinese government had suspended in a strong blow to Jack Ma’s $37 billion IPO of his ant group. As per the Wall Street General’s report, the order came directly from Chinese President Xi Jinping to suspend the IPO .
Jack Ma, the billionaire and founder of Alibaba Group, who has been critical of China’s Communist government, has been missing for the past two months. The disappearance of Jack Ma since the controversy with President Xi Jinping raises many serious questions. In October last year, the Chinese billionaire criticized the government’s policies, and since then he had been the target of the government. Their companies were also being monitored.
Jinping angry due to these reasons on Jack Ma
Jack Ma had criticised the government at an event held in Shanghai last year, the Daily Mail reported. He had targeted China’s “interest-eater” financial regulators and public sector banks. Jack Ma had demanded the government to change the system that tries to suppress the effort to introduce new things into the business. He also termed global banking regulations as a “club of elderly people”.
A variety of Bans imposed on Jack Ma
The report said that Jack Ma‘s speech was not liked by the Communist Party of China. His companies have since been targeted. A number of restrictions were also imposed on the part of the government.
In November last year, Jack was strongly shocked and suspended his $37 billion IPO of Ant Group. The Wall Street General’s report said the order to suspend the ANT group’s IPO came directly from Chinese President Xi Jinping.
Warning was given to not leave the country to Jack Ma
On the eve of Christmas, Jack Ma was asked by the government not to move out of China until the ongoing investigation against his Alibaba Group was completed. Jack Ma then mysteriously went missing just before the November final of his TV show Africa Business Heroes. Not only that, his picture was also removed from the show.
An Alibaba Group spokesperson said Jack Ma is not a part of the panel of judges due to the schedule controversy. However, several weeks before the final, Jack Ma tweeted that he was eager to meet all the participants.
There have been similar incidents before.
There is no activity on Jack Ma‘s social media account as well. At first, he continued to tweet. However, this is not the first time that the voices against the government have disappeared like this. Earlier, Ren Zhiqiang, a businessman who criticized President Xi Jinping, went missing.
He described Jinping as a “prankster” on the issue of the Corona epidemic. He was later sent to jail for 18 years. Another Chinese billionaire, Xi’an Jianhua ( Xian Jianhua) has been under detention since 2017.