Jack Ma: Chinese Billionaire Suspected Missing

Jack Ma, founder of Alibaba group. | Thibault Camus, File/AP Photo

Billionaire Jack Ma, one of China’s richest men and the founder of e-commerce giant Alibaba, is suspected missing since he has not made a public appearance in more than two months, according to a report from Yahoo Finance.

Ma’s reported disappearance comes after he called for economic reform in an October 24, 2020 speech in Shanghai, according to Yahoo Finance.

Ma was supposed to take part in the November finale episode of his show “Africa’s Business Heroes,” a competition for African entrepreneurs, but was replaced by an Alibaba executive, Yahoo Finance reported.

Jack Ma

Both Alibaba and Ant Group, the financial services company he spun off of Alibaba, came under the scrutiny of the Chinese government after Ma’s speech. Alibaba is facing an antitrust investigation launched in December, while Ant Group’s IPO was suspended and the business was told to restructure, according to Yahoo Finance.

Ma, whose fortune is estimated at $58.4 billion, committed millions of dollars to fight the coronavirus pandemic. In the spring, he said he would give $14.4 million from his foundation toward funding the vaccine development for coronavirus in Wuhan. Ma also committed an additional $2.15 million toward developing a vaccine at the Peter Doherty Institute for Infection and Immunity in Australia.

source: foxbusiness

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