The last video came in 2021, the devastation of 'Ma' started with the criticism of the communist government. Alibaba founder Jack Ma living in Tokyo since China's tech crackdown | NewsBust The last video came in 2021, the devastation of 'Ma' started with the criticism of the communist government. Alibaba founder Jack Ma living in Tokyo since China's tech crackdown | NewsBust

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The last video came in 2021, the devastation of ‘Ma’ started with the criticism of the communist government. Alibaba founder Jack Ma living in Tokyo since China’s tech crackdown

By Amit - November 30, 2022

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TokyoOne hour ago

Jack Ma, the founder of e-commerce company Alibaba, who has been missing from the country since the criticism of the Chinese government, is in Tokyo. Financial Times has claimed this in one of its reports. It has been said in the report that he keeps himself a very low profile. People aware of his whereabouts said that he had also brought a personal chef and security with him.

Those in Japan’s modern art scene say Ma has become an enthusiastic collector. Ma’s close friends said he turned to watercolor painting to pass the time. Ma has also been seen in countries such as Spain and the Netherlands since the crackdown by the Chinese government.

Jack Ma, right, is seen at a flower-breeding company in the Netherlands last year. He has been seen in different countries since his differences with the Chinese authorities.

Ma’s IPO was stopped by the Chinese government
Following the criticism, the Chinese government blocked the world’s largest IPO of another Ma company, Ant Group, at $37 billion. The company was slapped with an anti-trust fine of $2.8 billion. Ma disappeared after this whole incident. He last tweeted in November 2020. However, in 2021 a video of him surfaced.

Story of the meeting where things went wrong
Jack Ma came under target during a meeting on 24 October 2020. The biggest officials of Chinese politics and economy were present in this meeting. In this, Jack Ma criticized Chinese banks. He said, ‘Banks ask for some collateral for funding. Due to this, new technologies do not get funds and new experiments stop.

He also termed the Chinese rules as an obstacle in the way. According to the Wall Street Journal, when Chinese President Xi Jinping came to know about Jack Ma’s words, he became very angry and ordered Jack Ma to disappear from the scene.

This is how the story of Jack Ma’s devastation was written

  • First China stopped Jack Ma’s Ant Group’s IPO worth $ 37 billion i.e. about Rs 2.7 lakh crore in October 2020. Then only a few days later, China made ‘anti trust rules’. Under these, investigation was started against Alibaba. Due to this, the market cap of Alibaba had declined by more than Rs 10 lakh crore.
  • To teach Jack Ma a lesson, China went to such an extent that its central bank asked officials of Ant Group to register their entire business under the new rules to remove the errors related to credit, insurance and money management. Could In case of any lapse, the direct responsibility of the officers of the company was also fixed.
  • According to Quartz, this attempt to restructure one of the world’s most valuable company will leave it in debt. Yet Ant Group officials could not deny it.

Jack Ma was a worldwide superstar, this image became an enemy
Jack Ma’s e-commerce and fintech businesses shaped how Chinese people shopped, spent and saved. Jack Ma was famous worldwide as the face of Chinese technology and China’s undeclared ambassador. Jack Ma’s command over English and the most sociable personality made him stand out. His videos went viral on YouTube.

Alibaba founder Jack Ma is pictured in Hangzhou, China's Zhejiang province on September 10, 2019.  He performed on stage during the 20th anniversary celebration of Alibaba at the Hangzhou Olympic Center Stadium.

Alibaba founder Jack Ma is pictured in Hangzhou, China’s Zhejiang province on September 10, 2019. He performed on stage during the 20th anniversary celebration of Alibaba at the Hangzhou Olympic Center Stadium.

Jack frequented international conferences like Davos and gave speeches like leaders. Sometimes he used to dance dressed like Michael Jackson in company events, sometimes he used to show off his kung-fu skills in short films. According to Quartz, Jack Ma had become very popular. More discussion with China’s Supreme Leader Xi Jinping also became a threat to him.

There is more news…

Amit

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