Chinese Billionaire Jack Ma Suspected Missing

Speculation has swirled around the whereabouts of Chinese billionaire Jack Ma after reports emerged that in more than two months, the high-profile businessman has not made a public appearance.

The Alibaba founder also failed to appear as scheduled in the final episode of his own talent show, Africa’s Business Heroes, which gives budding African entrepreneurs the chance to compete for a slice of US $1.5 million, reports Yahoo Finance.

Ma was supposed to be part of the judging, but was replaced by an Alibaba executive in the November final, UK’s Telegraph reported. His picture was also taken off the website.

An Alibaba spokesperson said Ma was unable to take part on the judging panel “due to a schedule conflict”, according to Financial Times.

Ma’s business empire, Ant Group, has been under scrutiny by Beijing ever since Ma delivered a controversial speech in Shanghai on 24 October that criticised China’s regulation system for stifling innovation and likened global banking rules to an “old people’s club”.

“Today’s financial system is the legacy of the Industrial Age,” Ma said in the speech.

“We must set up a new one for the next generation and young people. We must reform the current system.”

Little over a week later, Ant’s IPO (valued at a record-setting US $37 billion or AU $48 billion), which had already received the green light from China’s securities watchdog, was suspended, with the Shanghai Stock Exchange saying Ant had reported “significant issues such as the changes in financial technology regulatory environment”.

But US veteran investor Mark Mobius said the move was designed to curtail financial institutions from getting too big.

“I believe the Chinese government stepped in because they realised that they had to regulate these companies, so that they don’t … get too big,” he told CNBC.

“The Chinese government is waking up to the fact that they cannot allow these companies that dominate a particular sector and particularly the financial sector.”

In late December, the Chinese authorities began an anti-monopoly investigation into Alibaba and ordered Ant Group to restructure its operations.

In an attempt to stem the pandemic, Ma has donated millions of face masks to Europe, the US and the World Health Organisation.

With the Jack Ma Foundation concentrating on education, entrepreneurship, women's leadership, and the environment, the billionaire is also active in charity work.

More than US $300 million has been distributed or pledged by the Foundation, Forbes reported.

Ma's last tweet was last year on 10 October.