Ma, the billionaire founder of technology giants Alibaba and Ant Group, has not been seen since regulators blocked Ant’s record-breaking public offering.
Alibaba and Ant co-founder Jack Ma has reappeared out of the public eye for months, dispelling intense speculation about the situation of the billionaire who is facing increased control over his internet empire.
The most renowned entrepreneur in China addressed many teachers on Wednesday at an online conference, part of an annual event hosted by the billionaire to recognize the achievements of rural educators. His appearance, first reported in a local blog, was confirmed by people familiar with the problem.
Ma’s reappearance may help quell persistent rumors about his fate as Beijing pursues investigations into Ant Group Co.’s online funding title. and Alibaba Group Holding Ltd. tightened fintech regulations, then ordered an overhaul of Ant and launched a separate antitrust probe into Alibaba – all within days.
The assault on Ma’s $ 3 billion corporate empire includes a larger campaign to control a generation of Chinese tech giants that Beijing now considers to have too much control over the No. 1 economy. 2 in the world. The flow of action against its twin companies has driven home the way Beijing has lost patience with the oversized power of its technology moguls, now perceived as a threat to political and financial stability, most notably President Xi Jinping’s award.