Chinese Billionaire Jack Ma Missing! | alibaba owner/ Explained by Sohail Khan

In most democratic countries, often politicians and governments are accused of being puppets in the hands of big capitalists and billionaires

Chinese Billionaire Jack Ma Missing! | Sohail Khan

Greetings, friends!

In most democratic countries, often politicians and governments are accused of being puppets in the hands of big capitalists and billionaires.

But in some dictatorship countries like China, the opposite happens. Here, big billionaires are puppets in the hands of the government.

Chinese Billionaire Jack Ma Missing! | Sohail Khan

And if they do not listen to the government, then they suddenly vanish.

The quite shocking news is coming from China about China’s second richest man who before September was the richest man of China, Jack Ma.

Chinese Billionaire Jack Ma Missing! | Sohail Khan

You must have heard his name as well. He is one of the most famous billionaires of China.

He has suddenly disappeared. His last tweet was posted in October 2020.

Since then, he hasn’t been found on any social media sites or seen in public anywhere.

What is shocking is that allegedly before his disappearance, he criticized one of the policies of the Chinese communist party.

In today’s blog, let’s get to know about China’s Jack Ma’s story and how China treats its billionaires.

Chinese Billionaire Jack Ma Missing! | Sohail Khan

It is quite an interesting and shocking story.

First, I would like to tell you about Jack Ma and Alibaba. His is a story of rags to riches.

He was born in a middle-class household in 1964. He failed his college entrance exam twice.

Chinese Billionaire Jack Ma Missing! | alibaba owner/ Explained by Sohail Khan

He passed the third time and completed his Bachelor’s in Arts in English. After which, he worked as an English teacher.

According to a Bloomberg video, he applied for more than 30 jobs and he got rejected 30 times. One of the famous jobs was at KFC where he was rejected.

Out of 24 people, he was the single person who was rejected for the job.

According to him, he applied to Harvard at least 10 times and his application was rejected all 10 times.

In June 1999, he founded the Alibaba company. If you do not know alibaba.com, it is one of the most famous e-commerce websites in the world.

In one way, you can think of it as a mixture of Amazon, eBay, and Paypal.

It is also one of the most profitable websites in the world.

In terms of net profit, it earns more profit than Amazon.

Initially, they started as a business-to-business website. If one business wants to sell something to another business then they can do so through Alibaba.

But today, alibaba.com has turned into a business-to-consumer platform as well much like Amazon. You can buy something on it too.

If you do not know about it, it is because most of its growth happened in China.

In September 2014, the Alibaba group came up with their Initial Public Offering on New York Stock Exchange.

It was the largest ever IPO of that time in the United States. The company was valued at $168 billion.

After being successful in e-commerce, the Alibaba company expanded in almost every sector.

Today, it is present in FinTech...their companies are present in cloud computing, video streaming, movie production, healthcare, sports, retail.

They have even bought a news media website as well.

Chinese Billionaire Jack Ma Missing! | alibaba owner/ Explained by Sohail Khan

After achieving so much, on 24th Oct 2020, Jack Ma committed a small mistake. He criticized the Xi Jinping government.

He didn’t even criticize the entire governance but rather just a specific aspect; the government’s financial regulatory system.

He said that Chinese banks work with a pawn shop mentality. They believe in the principle of zero risks.

So, when banks have to offer a loan to someone then they would not offer that loan without collateral even if the person has a good business idea.

It is almost next to impossible to get collateral-less loans.

According to Jack Ma, this policy of China inhibits innovation.

This was the scenario on 24th October.

Chinese Billionaire Jack Ma Missing! | alibaba owner/ Explained by Sohail Khan

On 5th November 2020, it was planned that Ant Group, the FinTech company that he has founded would roll out its IPO at the Chinese Stock Market.

This company expected its valuation to be pegged at more than $300 billion.

And if this would have happened then Jack Ma’s net worth would have crossed $60 billion.

But just one week after 24th October, the Chinese government changed its rules and regulations itself.

According to the new rules and regulations, Ant Group automatically got disqualified for the Initial Public Offering.

Right after this, the top watchdog of the Chinese government, the Alibaba Company is not following the anti-competition practices.

They launched their investigation on Alibaba. They said that Alibaba is not following anti-monopoly rules and is violating them.

This investigation taking place and the upheaval of the rules; all of this is happening because Jack Ma criticized the Chinese government!

Some people believe that it has happened because of it.

However, there are some other reasons as well. This can only be considered a partial reason.

Experts believe that the Chinese government was afraid that Alipay is getting so big that money is now moving away from Chinese banks and into Alipay.

The Chinese government was feeling very uncomfortable that the control of money was going to a private company here. And that it is no longer with the government

This is also quoted as one of the reasons why this is happening.

But due to this regulatory crackdown, the share market value of Alibaba fell by 17% in December.

In December only, many media houses reported how the online trolling done by Chinese IT cells has increased against Jack Ma.

Jack Ma is being defamed by the trolls in the Chinese IT Cells.

Chinese Billionaire Jack Ma Missing! | alibaba owner/ Explained by Sohail Khan

He used to be called “uncle horse” because the meaning of “Ma” in Jack Ma is a horse so he was known as “uncle horse”.

Recently, in the last one month, Chinese media websites i.e the government media and Chinese government IT cell trolls have portrayed him as a vampire.

A vampire that exploits the poor and sucks their blood. This way, his online image is also being defamed.Jack Ma also created a talent show, Africa’s Business Heroes. Consider it as a show like Jeto Pakistan Talent. He was also a judge on this show. The finale of the show was supposed to happen in November and he was not present in the show’s finale.

He just didn’t come.

And from here questions started being raised as to where Jack Ma is? Has Jack Ma disappeared?

But even as January is here, there has been no post on social media, no public appearance has been made by Jack Ma,

and people have now started raising questions.

News broke out in the entire world that where is Jack Ma? Has the Chinese government abducted him?

Have they nabbed him and put him in jail?

These speculations are being raised. Although some newspapers have reported according to their "sources" that Jack Ma is lying low.

He is just hiding from the public. Nothing has happened to him. There is no such problem. The Chinese government hasn’t arrested him.

He wants to stay away from the public. He wants to take some time off.

But similar news came in September 2019 when he retired from Alibaba Company.

It was speculated then there were tensions between Jack Ma and the Chinese Communist Party.

The Chinese politicians did not want Jack Ma to become so powerful and rich at all.

The latest updates are CNBC’s David Faber reported that Jack Ma is not missing. Instead, he is just lying low.

After this news...this news came on Tuesday. After this news, the share of Alibaba has registered a 5% increase again.

But, if the Chinese government has done something against Jack Ma...

If he has been put in jail or has been abducted,

then what is surprising is that it isn’t the first time that the Chinese government has done something like this.

You will be shocked to hear the old stories.

The first story is of Ren Zhiqiang, a very rich and influential Chinese property executive.

Chinese Billionaire Jack Ma Missing! | alibaba owner/ Explained by Sohail Khan

Last year, he called Xi Jinping a "clown" because of the Chinese government’s response to Coronavirus.

After which, he went missing. When he was finally found then it was known that one of Beijing’s courts had sentenced him to 18 years.

He was put in jail on charges of Corruption.

The court said that he has voluntarily confessed to all the charges.

He has admitted himself that he is corrupt and for which he will remain in jail for 18 years.

The second story is of a lawyer Chen Qiushi.

lawyer Chen Qiushi.

Post the outbreak in Wuhan, he wrote numerous emotional posts on social media

against the government while criticizing the local government, stating their inefficiency and against the restriction on freedom of speech in China.

After which he went missing. After a year, his friend revealed that he has been allegedly detained by the Chinese authorities.

The third story is of Xiao Jianhua. He too was a billionaire asset manager.

Chinese Billionaire Jack Ma Missing! | alibaba owner/ Explained by Sohail Khan

He criticized the Chinese government’s regulator after which he was abducted by Chinese authorities from a hotel in January 2017. Post this, he went missing.

All his wealth, his company was seized by Chinese authorities and the Chinese government took it under its ownership.

So, it isn’t surprising that Jack Ma said it himself “I think among the richest men in China, very few have good endings."

So very few amongst the rich billionaires in China have a happy ending