Previous various reports claimed that Chinese billionaire Jack Ma may have gone missing.
Now it is said that Chinese billionaire and Alibaba founder Jack Ma may not be missing but is “laying low” at the moment after his comments against China’s government regulators.
CNBC’s David Faber reported that Ma is not missing, 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.”
Faber further revealed that Ma “hasn’t been captured, he hasn’t been taken and there’s no expectation that the government is going to move on him in some way.”
“They spanked him. He’s learned his lesson, and that’s why he’s been quiet for the past two months…Some of his friends told me they can’t believe how stupid he was,” Rein, founder of China Market Research Group, was quoted.
The Chinese government was binding on Jack Ma for consumer data, which he had been opposing for a long time. In fact, China’s financial regulator wanted Jack Ma’s company Ant Group to hand over consumer credit data to its millions of customers. Jack Ma had very few options left after this pressure from Chinese regulators and a dispute with President Xi Jinping.
The report quoted Chinese officials as saying that the Chinese government was concerned that Jack Ma wanted to continue to grow his business but his focus was less on controlling the financial threat that the country’s goal is.