Alibaba founder Jack Ma has gone missing, according to a report in The Telegraph, UK. What's appalling is that the Chinese billionaire has not been in the public eye for more than two months. Considered one of China's internet pioneers, Jack Ma's apparent disappearance points fingers at the Chinese government as the two had been locked in a bitter conflict.
Ma was to appear as a judge in the final episode of his own talent show -- Africa's Business Heroes -- but, surprisingly, he did not turn up. The show provides African entrepreneurs the chance to compete for a slice of $1.5 million prize money.
It was reported in December that China had laid out a 'rectification plan' for Jack Ma's fintech venture Ant group, days after the country's top market watchdog began an investigation into alleged anti-competition practices by e-commerce giant Alibaba.
Ma's Ant group came under scrutiny after he delivered a controversial speech in Shanghai on October 34, where he criticized China's regulations for stifling innovation.
In November, the Alibaba founder suffered a major setback as Shanghai and Hong Kong Stock Exchanges suspended dual listing of the shares of his world's biggest initial public offer of USD 39.7 billion of the group's subsidiary - the Ant group, 48 hours before the highly-anticipated trading was due to start.
READ MORE: Alibaba founder Jack Ma reportedly missing following conflict with Jinping
A record 19.05 trillion yuan (USD 2.85 trillion) of bids were received from retail investors for Ant's shares on Shanghai's Star Market, exceeding the supply of shares by 870 times.
In Hong Kong, 1.55 million retail investors, or about one-fifth of the city's population, poured in HKD 1.3 trillion (USD 167.7 billion) for the shares when the book closed, overbidding by 389 times.
China's iconic businessman was summoned along with his senior executives by Chinese regulators, which was seen as a firm sign by the officials of the ruling Communist Party of China (CPC) to contain his new record venture.
In a sudden announcement in 2019, Jack Ma had said that he preferred to die at a beach than at his work table. This sparked speculation that he was feeling the weight of the CPC, which firmly exercised control over China's top businesses prompting him to downsize his business.
Ma started Alibaba.com in 1999 as a business-to-business marketplace with 17 co-founders in his Hangzhou apartment turning the company into a global e-commerce giant with burgeoning cloud computing and package delivery businesses.
Alibaba's sprawling businesses also include brick-and-mortar stores, online video, movies and other enterprises, and it has sought to expand in promising new markets like India and Southeast Asia.
READ MORE: China halts Jack Ma’s world’s largest IPO by suspending his Ant Group's listing
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