Chinese billionaire and Alibaba founder Jack Ma suspected missing after criticising President Xi Jinping

Chinese billionaire Jack Ma is missing after several media outlets reported that he has not been seen in public for over two months now.

File photo

Rumours are strong that Alibaba founder and Chinese billionaire Jack Ma is missing after several media outlets reported that the high-profile businessman has not been seen in public for over two months now.

Jack Ma did not appear in the final episode of his own talent show, Africa’s Business Heroes. UK’s Telegraph reported that Alibaba founder was supposed to be a part of the judging panel in November final but he was replaced by an Alibaba executive. Surprisingly, Jack Ma's picture was also removed from the website.

According to Financial Times, an Alibaba spokesperson said Ma failed to attend the final “due to a schedule conflict”.

It is to be noted that Jack Ma's huge business empire, Ant Group, has been under the scanner of Chinese government ever since the billionaire businessman delivered a speech on October 24 slamming China’s regulation system for stifling innovation. He had also called global banking rules an “old people’s club”.

“Today’s financial system is the legacy of the Industrial Age,” Ma said in the speech.

“We must set up a new one for the next generation and young people. We must reform the current system,” he added.

After a few days, Ant’s IPO which had already received permission from China’s securities watchdog was suspended. The Shanghai Stock Exchange justified the sudden move saying Ant had reported “significant issues such as the changes in financial technology regulatory environment”.

It is learnt that an anti-monopoly investigation was launched by China against Alibaba in December and Ant Group was ordered to restructure its operations.

Ma has donated millions of face masks to Europe, the US and the World Health Organisation in order to curb the spread of coronavirus. He is known for his charity work with the Jack Ma Foundation focused on areas of education, entrepreneurship, female leadership, and the environment.

Forbes reported that Jack Ma Foundation has distributed or pledged more than USD 300 million for charity purposes.

Notably, Ma’s last tweet was on October 10, 2020.