Billionaires saw: Jack Ma and other Chinese moguls who radar overtime News of the discovery of Alibaba co-founder Jake Ma from the public scene has been strongly speculated in the media in recent days. The coolness of the billionaire venture is unknown and Alibaba’s comment is not possible.
Formerly China’s richest man, Mao’s last public visit was at the Bundt summit in Shanghai in late October, where he criticized Chinese regulators for their innovation. In early November, he was allegedly summoned before Chinese authorities, who on November 3, pulled the plug on his Fintech Monster Ant Group’s planned IPO in November. Alibaba is now under investigation for monopolistic behavior, according to a statement from the government’s market watchdog. And the billionaire hasn’t been seen since October. Alibaba and the Ant group did not respond to a request for comment. I quoted a person familiar with the matter in a report on Tuesday, CNBC reported that I am not missing, only less.
Andrew Nathan, a professor at Columbia University who focuses on Chinese politics, says, “The big picture seems to be that [in] has become too big for its breach, in both free speech and real economic power.” “So he was arrested or voluntarily laid down, or he is a version of re-using the full power of the party.”
Macau’s absence from the public sector is part of a larger pattern. Forbes has reported that at least half a dozen other billionaires and wealthy businessmen have disappeared from public life in recent years in the wake of the Chinese Communist Party’s race. In December 2015, reports emerged that Guo Guangchun, founder and chairman of Fosun International Investments, was missing. Social media posts claimed that witnesses said Guo was taken by police to Shanghai Ghai Airport.
Often referred to as China’s Warren Buffett, Guo built his Hong 11 billion (wealth) giant listed in Hong Kong with investments across Asia, Europe, and North America. After the news broke, the firm temporarily suspended trading in the stock and Guo said it was assisting judicial officials with an anonymous investigation. After returning to power in 2012, President Xi Jinping returned to the company after Guo disappeared in the midst of an anti-corruption campaign, without giving further details. Current .5. Billion-dollar Guo is still the chairman of Fosun. Today
In January 2016, fast fashion firm Shanghai Metersbay Fashion & Accessories also temporarily suspended trading in its shares, saying it was unable to reach its billionaire founder, Zo Chengjian. The state-run newsgroup China Daily reported that Zhou was assisted by police in a possible insider trading and stock fraud case. Mitsubishi said in a filing to the Shenzhen Stock Exchange a week later that Zhou had returned to work, but did not elaborate on what had happened. Concerned about his wealth, Jhole left school at the age of 12 and began working as a carpenter and bricklayer before taking up training as a tailor. He later started Mattersbwe, which boasts more than ०० 10,000 million in revenue.
His daughter now chairs the company, although Zhou is its largest shareholder, with a fortune of १ 1.3 billion. Other traders have recently disappeared. Real estate mogul Ren Zhiqiang published an online essay in March after receiving reports of an explosion in the Chinese government’s handling of the Kovid 1 p epidemic. Although he did not mention Xi’s name, he referred to the Chinese leader several times and called him a “joker.”
A friend told the New York Times in March 2020 that they were “very worried” and were looking for him. In July, the government announced that Ren, the son of a longtime Communist Party member and former party official, had been expelled from the party. His property was confiscated and in September he was charged with taking bribes and other abuses of power as head of a state-owned real estate group. Proponents of her case have been working to make the actual transcript of this statement available online.
Another top-flight executive, Xiao Jianhua of investment firm Tumer Group, was snatched from Hong Kong with little explanation. In January 2017, Geo was taken from the Four Seasons Hotel in a wheelchair with a head covering (he did not know how to use a wheelchair); He was then whisked across the border into mainland China. The group said in a deleted WeChat statement in July 2020 that Xiao was in China assisting authorities in investigating the company.
The government has linked more than half a dozen businesses to the Tumor Group, accusing some companies of hiding information about their firm’s control shareholders and shareholdings. Xiao, who was well-connected to China’s political elite and facilitated business transactions for them, did not appear in the public eye. A spokesman for the group could not be reached for comment.
Aaron Friedberg, a professor of politics and international affairs at Princeton University, says that in Jack Ma, the treatment of Ren Zhiqiang and Xiao Jiahua indicates that the government is trying to overcome any challenges to its power. “The concentration of large assets, especially in the hands of private business executives, unlike state-owned enterprises, enables them to increase influence and therefore pose a potential threat to the party,” says Friedberg.“Under C and especially in the last few years, the CCP has regularly practiced arresting such people and confiscating their property. Whatever the specific details of each individual case, the big thing is to send a message: no one is above or beyond the reach of the party. ”