FX.co ★ China turns back on Jack Ma and Alibaba

Jack Ma, a co-founder of Alibaba and fintech giant Ant Group, is a world famous Chinese business magnate and philanthropist. Recently, there has been a lot of speculation over where Jack Ma is. The thing is that China’s most talked-about tycoon has not been seen in public for months due to his trouble with the local government.

Notably, Shanghai Securities News, the country’s leading financial newspaper, has recently published its list of tech luminaries, omitting Jack Ma. In fact, China's most recognizable and outspoken businessman did not take even the last line in the business leaders ranking. At the same time, he is definitely ahead of all the rating’s participants combined. The shift in attitude towards Ma came due to his statements criticizing the Chinese government. Thus, the Chinese Communist Party has immediately reminded Ma of his place by halting Ant Group’s IPO. On top of that, Ma has reportedly not been seen in public since October after he hit out against the Party. Meanwhile, independent observers are inclined to believe that both Alibaba and Ant Group will be nationalized in the near future.

January was the last time Jack Ma appeared in public. This fact calmed investors down a bit and even led to a rapid rise in stocks. Nevertheless, it is clear that the billionaire has not solved his problems with the government yet.