Chinese billionaire Jack Ma's not 'missing,' just 'laying low' after economic reform speech: sources
Where is Jack Ma?
Business Insider columnist Adam Lashinsky weighs in on Alibaba founder Jack Ma not making a public appearance in two months.
Chinese billionaire Jack Ma is "laying low" but "not missing or detained" after calling for economic reform in China during an October speech, sources inside Alibaba told FOX Business.
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Yahoo Finance reported on Sunday that Ma, one of China's richest men and the founder of e-commerce giant Alibaba, was suspected missing since he has not made a public appearance in more than two months.
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"Today's financial system is the legacy of the Industrial Age," Ma said Oct. 24 in Shanghai, according to Yahoo Finance. "We must set up a new one for the next generation and young people. We must reform the current system."
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Ma irked regulators with the speech at a business conference in Shanghai attended by some of the regulators he was criticizing. Chinese Vice President Wang Qishan also was in the audience.
Ma complained regulators had an antique “pawnshop mentality” and were hampering innovation, according to Chinese media.
WHERE IS JACK MA?
Both Alibaba and Ant Group, the financial services company he spun off of Alibaba, came under the scrutiny of the Chinese government after Ma's speech. Alibaba is facing an antitrust investigation launched in December, while Ant Group's IPO was suspended and the business was told to restructure.