Chinese billionaire Jack Ma missing? Speculation rife amid Xi's crackdown on Alibaba boss

Jack Ma, Chinese billionaire and founder of Alibaba, who is under scanner of ruling Chinese Communist Party (CCP), has reportedly t been seen in public for several weeks. This has led to speculations that Ma could be missing. He also failed to appear as scheduled in final episode of his own talent show, Africa’s Business Heroes, which gives budding African entrepreneurs chance to compete for a slice of US $1.5 million. He last tweeted on 10 October last year.

Where is Jack Ma?

Jack Ma was supposed to be part of show's judge panel, but was replaced by an Alibaba executive in vember final, UK’s Telegraph reported. His picture was also taken off website. According to Financial Times, an Alibaba spokesperson said Ma was unable to take part in judging panel "due to a schedule conflict."

56-year-old hasn't been seen publicly after officials hit back at him following an October speech in which he complained at a business conference that China's regulators and state-run banks are hampering opportunities. "Today’s financial system is legacy of Industrial ," Ma said in speech. "We must set up a new one for next generation and young people. We must reform current system," he said.

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Chinese regulators order Ant Group to rectify its businesses

In vember, officials in Beijing reprimanded Ma and suspended $37billion initial public offering of his Ant Group on direct order of President Jinping, Wall Street Journal reported. He was n advised to remain in China before launching an anti-mopoly investigation into his Alibaba Group Holding on Christmas Eve, according to Bloomberg. 

As per Associated Press, moves are part of Communist Party's efforts to curb influence of tech companies as y move into financial services sector during a time when Beijing is seeking to reduce financial risks. Chinese regulators also ordered Ant Group, world’s largest financial techlogy company, to rectify its businesses and comply with regulatory requirements amid increased scrutiny of anti-mopoly practices in country’s internet sector. 

Alibaba and a company spun off by Tencent Holding Ltd. were fined last month for failing to apply for official approval before proceeding with some acquisitions.

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