Alibaba founder Jack Ma ends up in Japan after China crackdown

TOKYO: Founder of Alibaba Jack Ma lived in Tokyo for nearly six months after disappearing from public view following China’s crackdown on the tech sector, Financial Times reported Wednesday, citing multiple unnamed sources.
The billionaire has kept a low profile since the crackdown, including the cancellation of Ma’s IPO by Chinese regulators. Ant’s nest and released Alibaba with a record fine.
But the FT said he has spent most of the past six months with his family in Tokyo and other parts of the country. Japanalong with visits to USA and Israel.
The British newspaper reported that Ma frequented a number of private members’ clubs in Tokyo and became a “passionate collector” of modern Japanese art, as well as exploring the expansion of his career. prefer his business to the field of sustainability.
Ma has been spotted elsewhere since he disappeared from public view in China, including on the island of Spain. Mallorca last year.
In recent years, Chinese officials have targeted the alleged anticompetitive practices of some of the country’s biggest names, due to concerns that big internet companies control too much data. and expand too quickly.
This July, it was reported that Ma planned to transfer control of Ant Group to appease Chinese regulators and revive the digital payments unit’s initial public offering.
His e-commerce giant Alibaba first reported flat revenue growth in August, as China grapples with an economic downturn and a resurgence of Covid-19 infections.
US authorities have put the company on a watch list that could be delisted from New York if it doesn’t comply with disclosure orders, sending the company’s stock plunging.


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