Where is Jack Ma? Alibaba's Jack Ma apparent disappearance fuels speculation - His Empire in Crisis after China halts Ant Group IPO

Jack Ma

Jack Ma, one of the world's richest people hasn't been seen in public for two months even missing the final episode of a TV show on which he was a judge, fueling speculation about his whereabouts.

Ma, who is the highest profile Chinese entrepreneur in the world, as the founder of e-commerce giant Alibaba, has been out of public view ever since he blasted Chinese regulators back in late October in a blistering public attack on the country's financial watchdogs and banks saying they were stifling innovation. 

 

Speaking at the 2nd Bund Financial Summit in Shanghai on 24 October, Ma believes that China’s financial system is outdated and must reform the current system.  

“Today’s banks still have a pawnshop mentality,” said Ma. 

 

Ma believes that this “pawnshop mentality” will make it difficult for traditional finance to support the needs of future growth, and called for its replacement with a big-data based credit system that will “make trust equal to wealth.”

This statements drew the ire of officials, which viewed Ma's criticisms as an attack on the authority of the Communist Party, and led to its extraordinary clampdown on Ma's business activities.

In the days that followed, Chinese regulators zeroed in on Ma's businesses launching an anti-trust probe into Alibaba and suspending the 37 billion IPO of Alibaba's Ant Group.

 

It was reported on Friday that Ma was replaced as a judge in the final episode of a game show for entrepreneurs called Africa's Business Heroes.

When asked about the missed TV appearance Alibaba spokesman said on Monday that his absence was due to a scheduling conflict declining to elaborate.

His absence fueled a lot of speculation as to exactly where he is or whether or not he's been disapeard by authorities, if he's fled the country, or perhaps just laying low.

 

Many people in tech believe that he is just laying low.  Probably because from Beijing's perspective such a high profile detention would likely force other entrepreneurs to think twice as to whether or not they want to be in China and it would come at a time when Beijing wants to make sure that people believe that this environment is welcoming to private business.