The Chinese billionaire founder of Alibaba, Jack Ma, has gone missing after calling for economic reform, according to media reports that questioned the reasons for his departure from the limelight relatively recently.
Billionaire Jack Ma, one of the richest men in China and founder of the e-commerce giant Alibaba, has not appeared in public for more than two months. For a report published by Yahoo Finance and published by “Foxbusiness”.
Ma’s disappearance came after he called for economic reform in an October 24 speech in Shanghai. Despite the pandemic, the performance of the factory sector in China increased in December and remained at pre-epidemic levels.
The billionaire, who disappeared from the spotlight, said, “The financial system today is the legacy of the industrial age. We must create a new generation of young people, and we must reform the current system.”
A company reported Yahoo Finance Jack was not supposed to participate in the November final episode of “Africa’s Business Heroes”, a competition for African entrepreneurs, but was replaced by an Alibaba CEO.
Alibaba and Ant Group, the financial services company, were subjected to Chinese government oversight after Jack Ma’s speech, and Alibaba is facing an antitrust investigation that began in December, while the Ant Group’s initial public offering has been suspended, and the company has been informed of the restructuring.
Jack Ma, whose fortune is estimated at $ 58.4 billion, has committed millions of dollars to fighting the coronavirus pandemic.
He said that he will grant $ 14.4 million from his foundation to finance the development of a vaccine for the Coronavirus in Wuhan, and an additional $ 2.15 million has been allocated to develop a vaccine at the Institute for Infection and Immunology in Australia.