Rumors have spread that co-founder of Chinese tech giant Alibaba, Jack Ma have been missing. On Monday, (01/04), Ma reportedly went missing for more than two months. Various rumors spread including rumors of his death. However, CNBC reported that Ma has not been missing.
David Faber reported that Ma has never been missing at all. In fact, he has been laying low for the past two months. “He’s not missing,” Faber said, adding “what I can tell you is that he’s very likely in Hangzhou, where Alibaba is headquartered, and is being less-visible, purposefully…but that doesn’t mean that he’s missing.”
Alibaba shares jumps up by 5% following this news. Previously on Monday, Alibaba shares fell as much as 3% after the first rumor of Jack Ma’s disappearance spread.
Alibaba co-founder Jack Ma laying low, avoiding Chinese authorities?
Rumors of Jack Ma’s disappearance started as the billionaire has not been showing up in public for the past two months. Despite the various events and business audition programs scheduled for him as one of the judges. He cancelled his appearance in the audition program in the last minute. Another Alibaba executive replaced his seat in that event.
This just a while after his statement last October. At the Shanghai Wytan Financial Summit on October 24th, Ma criticized that Chinese government is suppressing innovation. Apparently, since that Jack Ma has been pressured by the Chinese authorities.
Chinese financial authorities have imposed tough sanctions on him and Ant Group, a fintech affiliate of Alibaba Group. The IPO of Ant Group, which was expected to be worth 37 billion dollars in November last year, was abruptly suspended.
Ma was not present when the government summoned the management of Ant Group, the operator of Alipay, on December 26 last year. Meanwhile, the Wall Street Journal (WSJ) reported on the 5th that Chinese regulators are considering measures to release consumer credit information of Ant Group, which Ma has not cooperated for years.
