Chinese billionaire Jack ma missing
Chinese billionaire Jack ma has not made any public appearance for several weeks, who is currently under scrutiny by the government of China. The speculations are rife that he could be missing. His companies Alibaba and Ant group are facing an antitrust probe by the government for alleged monopolistic practices.
Jack ma openly criticized the Chinese regulators and called them as country’s banks “pawnshops”. He had also said in October 2020, ”Mortgages and guarantees are for a pawnshop,but if we go to extremes in relying soley on collateral assets, certain enterprises will pledge all of their assets, and the pressure is enormous.” After this statement the scrutiny came down heavily on him.
In November 2020, Alibaba and Ant Group’s $34 billion initial public offering (IPO) was suspended by the Shanghai Stock Exchange. Ant Group, world’s biggest IPO was scheduled for a dual listing on November 5, on Shanghai and Hong Kong bourses and it was halted in China with less than 48 hours to go.