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The Fall On October 24, 2020 Jack Ma, ahead of its IPO of Ant Group criticised the Chinese Banking System in front of high profile people. He called on Chinese banks to be operating with ‘pawn-shop mentality’. He also went on to say that authorities were trying to manage an airport as they should manage a railway station. This opened the pandora box for Jack Ma as he faced the wrath of Xi Jinping as he upset some bankers and people in high positions. Ma and his colleagues were called for a meeting with the regulators and Ant Group’s IPO was stopped. Jack Ma’s companies went into free fall wiping $76 billion from the market. Five different regulation agencies launched investigations into the company. After that Jack Ma disappeared from the public.
Jack Ma’s disappearance came into notice when he failed to appear on a TV show he created. Due to a schedule conflict Mr Ma could no longer be part of the finale judge panel of Africa’s Business Heroes earlier this year Many speculated he has been arrested, while some said he was dead. He was the seen on January 20, 2021 at a charity event, then at the island of Hainan playing golf. So, what forced such a passionate billionaire to disappear off the grid. Its China, lets rather not comment.
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