Beijing: China's third-richest man and Alibaba Group owner Jack Ma has been missing for the past two months. Jack Ma, who unilaterally ruled the tech world in China, has not appeared for the past two months following a dispute with Chinese President Xi Jinping. Jack Ma had sharply criticized China's 'interest-bearing' financial regulators and state-run banks in a speech in Shanghai in October last year.
Jack Ma, who has been the ideal of crores of people all over the world, had called upon the government to make changes in a system that tries to 'suppress the effort to introduce new things in the business'. He described the international banking rules as 'old people's club'. The ruling Communist Party of China erupted after this speech. Jack Ma's criticism was taken as an attack on the Communist Party. Jack Ma's bad days then began and extravagant sanctions were imposed against his business.
In November, Chinese authorities gave a strong blow to Jack Ma and suspended his Ant Group's $ 37 billion IPO. According to a Wall Street General report, the order to cancel the IPO of Jack Ma's ANT group came directly from the Chinese President Xi Jinping. Jack Ma was then asked on the eve of Christmas not to leave China until his ongoing investigation against the Alibaba Group was completed.
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