Alibaba group co-founder and Chinese billionaire Jack Ma has not appeared to the public in the past two months. He was last seen in a controversial speech last October. Jack Ma didn’t even appear in the final episode of his own television show, Africa’s Business Heroes. Ma was then replaced by Lucy Peng, Alibaba Group Manager. Moreover, his photo has also been removed from the program’s website. A spokesman for Alibaba told the Financial Times that Jack Ma was unable to attend the final episode of the show due to a time conflict on his private schedule.

Jack Ma, the founder of Alibaba, has not appeared in public for two months, since his controversial speech criticizing the Chinese financial and banking system. Today, there is official talk of a disappearance.

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Jack Ma in the aforementioned speech, delivered thoroughly 24 on October criticized the Chinese financial regulators of pawnshops and state-owned banks ”. He also called for reform of China’s regulatory system to curb business innovation, comparing global banking regulation to an “old people’s club.” “The financial system today is a legacy of the industrial age. We need to create a new system for the next generation and young people. We have to reform the current system, “said Ma.

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According to The Wall Street Journal, at the behest of President Xi, Beijing officials froze 37 billion-dollar IPO of the Ant group, a subsidiary of the Alibaba group. As Bloomberg notes, the billionaire was advised to stay in the country, and on Christmas Eve an anti-monopoly investigation into the Alibaba Group was launched. The antitrust investigation saw Alibaba’s shares fall by a quarter of those two months ago, removing more than 10 billion dollars from Ma’s fortune. Currently, the billionaire’s fortune is estimated at 63 $ 1 billion.

Source: Tweak Town, Wall Street Journal, Bloomberg