Chinese billionaire and founder of the Alibaba Group and Ant Group, Jack Ma, has been reported as missing since October 2020, after he openly criticised China’s regulators and its state-owned banks, accusing the Communist government of slowing down innovation. Ma has not been seen in public since October and has missed key public appearances without explanation.
Ma is a vigorous proponent of an open and market-driven economy. He is also a global ambassador for Chinese business, and Forbes has him ranked as the 33rd wealthiest person on the planet with a net worth over $23 billion. It is reported that Ma has lost approximately $11 billion of his net worth over the last three months.
Ant Group has been duelling with the Chinese government over its proposed IPO and Ma has been defiant of their regulations; potentially costing him billions and angering the Chinese government.