Jack Ma arrested? Chinese media says Alibaba founder 'embracing supervision'

After Ma's recent wrangle with China's government over the regulatory issues, Chinese media outlets have desperately tried to change his image from "Uncle Horse" (Ma in Chinese means horse)" to a cruel and money-grabbing "vampire" businessman. He is being posed as the one who loves to exploit the poor in various government-leaning media outlets.

Ma has been ordered not to leave the country and has not made any public appearance since November 2020. It's reported that Chinese authorities, unhappy over his tirade against them, pulled the plug citing Alibaba's enormous growth and launched an 'anti-monopoly' probe against his company.

Meanwhile, the investigation has led to a drop in Alibaba's shares by a quarter since their peak, wiping over $10 bn from his fortune. This resulted in him falling to third place on the list of China's richest people. Ma's current net worth is estimated at $63.1 bn, according to the Bloomberg Billionaires Index.

13 views0 comments
  • Amazon Social Icon
  • Facebook Social Icon
  • LinkedIn Social Icon
  • Twitter Social Icon
  • Instagram

© 2021 by StartupNews. Proudly created in India