• Latest
  • Trending
  • All
Who is Jack Ma, why is he ‘laying low’?

Who is Jack Ma, why is he ‘laying low’?

January 6, 2021
#SalaarSagaBegins: Prabhas and Yash pose together at the Puja ceremony

#SalaarSagaBegins: Prabhas and Yash pose together at the Puja ceremony

January 15, 2021
Netizens are suggesting some  funny Solutions to vaccinate country against Covid-19

Netizens are suggesting some funny Solutions to vaccinate country against Covid-19

January 15, 2021
Nehha Pendse Starts Shooting For Bhabiji Ghar Par Hain

Nehha Pendse Starts Shooting For Bhabiji Ghar Par Hain

January 15, 2021
Lady Gaga, Jennifer Lopez to perform at Joe Biden’s swearing-in as US president

Lady Gaga, Jennifer Lopez to perform at Joe Biden’s swearing-in as US president

January 15, 2021
Neha Malik sets internet on fire with her bold bikini photos

Neha Malik sets internet on fire with her bold bikini photos

January 14, 2021
‘Master’ Day 1 Box Office collections: Thalapathy Vijay’s film is a blockbuster despite limited occupancy

‘Master’ Day 1 Box Office collections: Thalapathy Vijay’s film is a blockbuster despite limited occupancy

January 14, 2021
Bigg Boss 14: Srishty Rode shares a cool video of Abhinav Shukla’s condition due to Rakhi Sawant’s flirting

Bigg Boss 14: Srishty Rode shares a cool video of Abhinav Shukla’s condition due to Rakhi Sawant’s flirting

January 14, 2021
Rashmika Mandanna looks very cool in first look of music video Top Tucker with Badshah

Rashmika Mandanna looks very cool in first look of music video Top Tucker with Badshah

January 14, 2021
KUWTK Wrap: The Kardashians thank crew with 30 Rolex watches costing Rs 7.3 lakh each

KUWTK Wrap: The Kardashians thank crew with 30 Rolex watches costing Rs 7.3 lakh each

January 14, 2021
Aashka Goradia’s stunning swimwear pics can’t be missed

Aashka Goradia’s stunning swimwear pics can’t be missed

January 14, 2021
Three YouTubers Arrested in Chennai After Video of Woman Talking About Sex, Alcohol Goes Viral

Three YouTubers Arrested in Chennai After Video of Woman Talking About Sex, Alcohol Goes Viral

January 14, 2021
Virat Kohli and Anushka Sharma ask paparazzi to not click their daughter picture, send gift hampers

Virat Kohli and Anushka Sharma ask paparazzi to not click their daughter picture, send gift hampers

January 14, 2021
Friday, January 15, 2021
Buzzyoo
  • Home
  • Viral
  • Trending
  • World
  • BuzzyooTV
  • Sci & Tech
  • Fashion & Lifestyle
    • All
    • Romance
    Neha Malik sets internet on fire with her bold bikini photos

    Neha Malik sets internet on fire with her bold bikini photos

    Aashka Goradia’s stunning swimwear pics can’t be missed

    Aashka Goradia’s stunning swimwear pics can’t be missed

    Esha Gupta Looks Sexy in Sultry Instagram Posts, Check Pics

    Esha Gupta Looks Sexy in Sultry Instagram Posts, Check Pics

    Shanaya Kapoor’s latest photoshoot is hot and sizzling, see pics

    Shanaya Kapoor’s latest photoshoot is hot and sizzling, see pics

    Naagin 5 actress Surbhi Chandna looks very hot in her latest pics

    Naagin 5 actress Surbhi Chandna looks very hot in her latest pics

    Shehnaaz Gill looks stunning in pink sweater, gives perfect winter goals

    Shehnaaz Gill looks stunning in pink sweater, gives perfect winter goals

    Sara Ali Khan Gives Winter Fashion Goals With Her Christian Dior Poncho and Suede Boots

    Sara Ali Khan Gives Winter Fashion Goals With Her Christian Dior Poncho and Suede Boots

    Malavika Mohanan Looks Stunning In A Thigh-High Slit Dress As She Kickstarts ‘Master’ Promotions

    Malavika Mohanan Looks Stunning In A Thigh-High Slit Dress As She Kickstarts ‘Master’ Promotions

    Nora Fatehi Looks Stunning in a Shiny Figure-Hugging Gown

    Nora Fatehi Looks Stunning in a Shiny Figure-Hugging Gown

  • Cricket
  • ENTERTAINMENT
    #SalaarSagaBegins: Prabhas and Yash pose together at the Puja ceremony

    #SalaarSagaBegins: Prabhas and Yash pose together at the Puja ceremony

    Nehha Pendse Starts Shooting For Bhabiji Ghar Par Hain

    Nehha Pendse Starts Shooting For Bhabiji Ghar Par Hain

    ‘Master’ Day 1 Box Office collections: Thalapathy Vijay’s film is a blockbuster despite limited occupancy

    ‘Master’ Day 1 Box Office collections: Thalapathy Vijay’s film is a blockbuster despite limited occupancy

    Bigg Boss 14: Srishty Rode shares a cool video of Abhinav Shukla’s condition due to Rakhi Sawant’s flirting

    Bigg Boss 14: Srishty Rode shares a cool video of Abhinav Shukla’s condition due to Rakhi Sawant’s flirting

    Rashmika Mandanna looks very cool in first look of music video Top Tucker with Badshah

    Rashmika Mandanna looks very cool in first look of music video Top Tucker with Badshah

    Virat Kohli and Anushka Sharma ask paparazzi to not click their daughter picture, send gift hampers

    Virat Kohli and Anushka Sharma ask paparazzi to not click their daughter picture, send gift hampers

    Bigg Boss 14: Jasmin Bhasin Calls Rubina Dilaik a Mastermind, Says ‘We Cannot Be Friends’

    Bigg Boss 14: Jasmin Bhasin Calls Rubina Dilaik a Mastermind, Says ‘We Cannot Be Friends’

    ‘Jannat’ star Sonal Chauhan opens up on viral memes on her bikini photos

    ‘Jannat’ star Sonal Chauhan opens up on viral memes on her bikini photos

    Saiyami Kher: “After Mirzya, Filmmakers Decided To Go Ahead With Someone Else Who Was Commercially More Successful”

    Saiyami Kher: “After Mirzya, Filmmakers Decided To Go Ahead With Someone Else Who Was Commercially More Successful”

  • News
Buzzyoo
No Result
View All Result

Who is Jack Ma, why is he ‘laying low’?

by BuzzYoo
January 6, 2021
in Politics, World
3 min read
0
Who is Jack Ma, why is he ‘laying low’?

image: theguardian.com

Share on FacebookShare on Twitter

As we all know that a couple of days ago it was reported that Chinese billionaire and Alibaba founder Jack Ma has not appeared before the public in over two months. Questions were raised about the high-profile Chinese entrepreneur’s whereabouts after he failed to appear for the final episode of an African talent show he created.

On Wednesday, CNBC reported that the 56-year-old is likely “laying low” and is being “less visible” purposely. The report added that Ma is likely in China’s Hangzhou city, where the Alibaba headquarter is located.

RelatedPosts

Lady Gaga, Jennifer Lopez to perform at Joe Biden’s swearing-in as US president

KUWTK Wrap: The Kardashians thank crew with 30 Rolex watches costing Rs 7.3 lakh each

Taylor Swift & Joe Alwyn Publicly Walk Hand In Hand & It’s A Rare Glimpse, See Pics

A report on CNN Business indicated that the Chinese tech tycoon has been missing from public view since the Chinese regulators stopped his Ant Group’s bumper IPO. The report added that MA has been told to maintain a “low profile” for the time being.

Why is Jack Ma laying low?

Jack Ma is known for his charismatic and outspoken nature, but he may have pushed the boundaries too far during an October 24 event, where he criticised Chinese regulators of stifling innovation.

During the conference in Shanghai, Ma had even compared Chinese banks with pawn shops. To sum it up, just a month before Ma’s Ant Group was about to launch the world’s biggest IPO, he went ahead and directly criticised the Chinese government, or the ruling Communist Party.

Beijing struck back by stopping his IPO and even summoned Ma and Ant executives to a meeting. The regulators have also asked for restructuring Ant Group’s business. The development has already cost Ma billions of dollars.

Just a month later, the Chinese government even started an anti-monopoly investigation against Alibaba, the company founded by Jack Ma. It may be noted that Jack Ma is no longer the chairman of Alibaba, but owns a large chunk of share in the company and is part of a core group responsible for selecting the majority of Alibaba’s board members.

Simply put, speaking out of turn seems to have cost Ma, with the Chinese government flexing its muscle to crack down on his businesses over the past few days — something that China’s ruling party has done in the past.

The Chinese government has a history of cracking down of big personalities. A CNN Business report suggested that the government had earlier turned up the heat on superstar actress Fan Bingbing, who had abruptly gone incognito in 2018 and appeared a year later to apologise for a tax evasion scandal.

Another instance is when real-estate tycoon Ran Zhiqiang suddenly disappeared for several months in 2020 after allegedly criticising Chinese President Xi Jinping’s handling of the coronavirus pandemic. He was even jailed for 18 years on corruption charges.

Who is Jack Ma?

Jack Ma was born in 1964 as ‘Ma Yun’ to a humble family in Hangzhou city. Ma struggled hard in his early life when he worked as a guide for foreign tourists in the city. He later graduated in 1988 with a bachelor’s degree in English.

After being rejected for several jobs, Ma finally secured one at a local university to teach English. He earned a mere $15 per month. But as China opened up to entrepreneurs, many individuals like Ma grabbed the opportunity at the height of the global internet revolution.

In 1999, Ma founded Alibaba along with his wife and a group of close friends. He kept on raising funds and expanded his company that initially started off as an online B2B marketplace.

In 2014, Alibaba Group raised a mammoth $25 billion in the world’s biggest IPO and got listed on the New York Stock Exchange. While Alibaba has grown leaps and bounds over the years, Ma’s personal wealth has also increased to over $50 billion. He is now the 25th richest person in the world, according to the Bloomberg Billionaires Index (BBI).

Ma is a living manifestation of the success that young home-grown Chinese entrepreneurs enjoyed, but a New York Times article argues that more number of China’s young population has turned against billionaires like Jack Ma.

The Chinese Communist Party seems to be tapping this resentment against Ma to crackdown on his vast business empire. But the main reason behind the Chinese government’s action against Ma’s business empire seems to be due to his critical comments against the country’s regulators

Source: India Today

Also Read: Who is Jack Ma, where is he,China’s e-commerce giant?

Share3Tweet2Share1
BuzzYoo

BuzzYoo

Related Posts

Lady Gaga, Jennifer Lopez to perform at Joe Biden’s swearing-in as US president
News

Lady Gaga, Jennifer Lopez to perform at Joe Biden’s swearing-in as US president

January 15, 2021
KUWTK Wrap: The Kardashians thank crew with 30 Rolex watches costing Rs 7.3 lakh each
News

KUWTK Wrap: The Kardashians thank crew with 30 Rolex watches costing Rs 7.3 lakh each

January 14, 2021
Taylor Swift & Joe Alwyn Publicly Walk Hand In Hand & It’s A Rare Glimpse, See Pics
World

Taylor Swift & Joe Alwyn Publicly Walk Hand In Hand & It’s A Rare Glimpse, See Pics

January 12, 2021
Madrid gets most intense snowfall in 50 years. Viral videos
Viral

Madrid gets most intense snowfall in 50 years. Viral videos

January 12, 2021
Load More
Buzzyoo

Copyright © 2019 Buzzyoo.

Links

  • About Us
  • Advertise with us
  • Privacy Policy
  • Terms and Conditions
  • Politics
  • Business
  • Travel
  • FOOD & DRINKS

Follow Us

No Result
View All Result
  • Home
  • Viral
  • Trending
  • World
  • BuzzyooTV
  • Sci & Tech
  • Fashion & Lifestyle
  • Cricket
  • ENTERTAINMENT
  • News

Copyright © 2019 Buzzyoo.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In