Jack Ma's whereabouts still uncertain; Chinese billionaire 'laying low', claim reports

After reports emerged about Chinese billionaire Jack Ma's 'mysterious disappearance', CNBC’s David Faber reported on Tuesday that founder of Alibaba is "t missing." According to a person familiar with matter, Ma has been lying low, for time being, Faber reported. Meanwhile, as per Chinese Communist Party mouthpiece People's Daily, Ma is "embracing supervision at an undisclosed location", Hong Kong-based Asia Times reported.

're would be Jack Ma era': CCP Mouthpiece

As per or media reports, China has a track record of t revealing information on arrests of big personalities, so
"embracing supervision" could well mean jail. A statement in a leing state media outlet said re would be "Jack Ma era", and that reflects current Chinese slogan that China is entering a ‘new era.’ People's Daily Online said in vember: "Ma Yun is savvy, but without support of national policies, Alibaba will t be able to become a trillion business empire, and Ma Yun cant have influence and popularity today."

A commentary in Netease went furr. "On vember 3, listing plan of Ant Group was suspended. Jack Ma, who 'dislikes money', t only lost best chance of becoming world's richest man, but even reputation he h accumulated over many years collapsed almost overnight, and he was longer a kind 'Far Horse'. Inste, he became evil 'vampire' in people's hearts," it said according to Asian Times.

Jack Ma 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.

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.

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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 vised 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.

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