In 2020, Jack Ma, The Millionaire Founder Of Alibaba, Vanished From View. He Has Spent The Last Six Months Residing In Tokyo
The founder of Alibaba Group, Jack Ma, who was once one of China’s wealthiest businesspeople, mostly vanished from public view two years ago following a run-in with the law. The Financial Times claimed on November 29 that he had since reappeared in Tokyo, citing sources with firsthand knowledge of his location.
Ma, a fiery teacher who has become a tech titan, was once a well-known jet-setter and the face of China’s Big Tech. However, since making a speech in which he criticized China’s financial regulatory system in October 2020, he has been keeping a low profile.
His remarks incensed the Chinese government, which resulted in a close regulatory examination of his enterprises and a wider crackdown on internet companies operating there.
Since Ma disappeared from the spotlight, there has been a lot of speculative discussion over his whereabouts.
According to the information posted on the Dutch university’s website, the billionaire was spotted in July at Wageningen University & Research.
Despite having lived in Tokyo for close to six months, according to the Financial Times report, Ma has kept a low profile and has spent most of his time socializing in a number of exclusive clubs. According to reports, he also took his family on vacation to hot springs and rural ski resorts while he was in Japan.
According to the report, Ma has been visiting the US and Israel on a regular basis.
Japan had some of the strictest border controls in the world during the pandemic, similar to China, but visa-free travel was reinstated this month. Contrarily, lockdowns have continued in China, sparking unusual rallies against the government this past weekend.
Beijing’s promotion of common prosperity, which holds that the wealthy should distribute their wealth to the poor in order to create a more equal society, coincided with the focus on Ma’s activities. Both tech and real estate companies were impacted by the drive, which forced them to lower their debt loads in an effort to rein in rising home prices.
The wealthiest citizens of China saw their net worth plummet as a result, which pressured Chinese IT and real estate enterprises. According to the Bloomberg Billionaires Index, Ma, who peaked at nearly $61 billion in value in October 2020, is now estimated to be worth roughly $30.7 billion. That’s partly due to Alibaba’s stock price dropping by nearly 75% from its peak in 2020.
Ma retired from his position as Alibaba’s chairman in 2019. He remains a board member of the Jack Ma Foundation, which he established. A request for a response from Insider was not immediately answered by the foundation.
News Mania Desk
