The Strategist

FT: Billionaire Jack Ma departs from China

11/30/2022 - 09:26

Jack Ma, the founder of Alibaba and one of China's wealthiest billionaires, has been residing in Tokyo for approximately six months, according to reliable sources who spoke to the Financial Times.

Paul Kagame
Paul Kagame
The sources claim that since relocating to Tokyo, Ma has scaled back his social activities, which were previously overtaken by meetings with dignitaries from China and other countries.

Ant or the Jack Ma Foundation did not respond to requests for comments from the newspaper.

Since Ma criticized the structure of China's banking system two years ago, people have wondered where he is. Soon after, regulators began an antitrust probe on Alibaba that resulted in a record fine and abruptly postponed the IPO of Alibaba subsidiary Ant Group.

According to the FT, Ma has virtually vanished from public view as a result of Beijing's heightened pressure on influential entrepreneurs and internet companies in China as well as its stepped-up anti-coveting tactics. He has occasionally been spotted outside of China. For instance, the founder of Alibaba was observed in Mallorca, Spain, in 2021, and he traveled to the Netherlands in July of 2022 to visit a university.