Chinese billionaire and Alibaba Group founder Jack Ma’s disappearance speculations arose as he reportedly did not appear on his own show since October. Recently Communist China had halted Ant Group Co.’s $35 billion share sale in Shanghai and Hong Kong after Alibaba Group Co-founder Jack Ma had called out the Chinese government over the financial system. The Chinese government has cited “major issues” for suspending the world’s largest IPO debut.
As speculation mounted over the whereabouts of the Chinese tycoon, another stunning news has started surfacing that Beijing ordered Chinese media to censor coverage of the Alibaba probe. The national media have been instructed to censor their coverage and reporting on the antitrust probe and Jack Ma. Alibaba Group, founded at Hangzhou in China, is a multinational conglomerate holding company specializing in e-commerce, retail, internet, and technology. The founder Jack Ma of the e-commerce giant is considered one of Asia’s richest men. Ma had after two decades of building Alibaba turned it into an e-commerce powerhouse worth over $460 billion.
Major corporations are driven by fears that antitrust scrutiny will spread beyond Jack Ma’s internet empire putting under the radar China’s most powerful corporations. The latest Communist Party’s crackdown on Alibaba and its three largest rivals already made them shed nearly $200 billion in Hong Kong. This media censorship and sudden disappearances of influential Chinese billionaires like Jack Ma raises several difficult questions on the minds of the public and the world at large.
Once applauded as the torchbearers of China’s economic and technological top players, Alibaba and its contemporaries are now face increasing pressure from investor regulators. It seems the CCP is increasingly getting worried about the speed with which they are spreading across several verticles like media and education and subsequently gaining influence over the daily lives of hundreds of millions.