Tech billionaire Jack Ma 'missing' after criticising China in October 2020: Reports
Beijing: Over two months after Chinese Tech Billionaire and Alibaba co-founder Jack Ma gave a controversial speech in October 2020, he is yet to make a public appearance, fueling speculations of him being “missing” across social media platforms.
Jack Ma, in a speech on October 24, criticized China’s “pawnshop financial regulators and state-owned banks.” He also called for a reform of China’s regulation system for stifling business innovation and likened global banking regulations to an 'old people's club'.
Jack Ma also did not appear for the final episode of his own talent show, Africa’s Business Heroes in November and was replaced by Lucy Peng, an Alibaba executive to judge the show. An Alibaba spokesperson had told Financial Times that Jack was unable to attend the final episode of the show as a judge due to the conflict in schedule time.
"Today’s financial system is the legacy of the Industrial Age. We must set up a new one for the next generation and young people. We must reform the current system," Ma said in the speech. According to The Wall Street Journal, officials in Beijing dressed down Ma and suspended the $37billion initial public offering of his Ant Group on the direct order of President Xi in November.
Bloomberg noted that Ma was advised to remain in China after which an anti-monopoly investigation was launched into Ma's Alibaba Group Holding on Christmas Eve. Beijing also ordered Ma's financial tech company Ant Group to scale back its operations. The anti-monopoly investigation caused Alibaba's shares to drop by a quarter since their peak shortly after the October speech, wiping more than $10billion from Ma's fortune, Daily Mail UK reported. This resulted in Jack Ma landing in third place on the list of China's richest people, behind Pinduoduo chief executive Colin Huang and Tencent Holdings' Pony Ma Huateng. Ma now has an estimated current net worth of $63.1billion, according to the Bloomberg Billionaires Index.
Reports speculate that Ma’s speech angered the Chinese government, which viewed his criticisms as an attack on the authority of the Communist Party. Ma’s business empire, Ant Group, has been under scrutiny by Beijing ever since the speech. Jack Ma was involved in charity work and has donated millions of face masks to Europe, the US, and the World Health Organisation in the backdrop of coronavirus. He also donated 2000 ventilators to New York hospitals.
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Mercury likely to touch 44 deg C in Delhi; IMD issues alert for heatwave-like conditions
New Delhi (PTI): Delhi recorded a minimum temperature of 26.2 degrees Celsius on Sunday, 2.4 notches below the seasonal average, according to the India Meteorological Department.
The weather department has forecast partly cloudy sky with an orange alert for heatwave-like conditions at isolated places by the evening.
The maximum temperature is expected to reach around 44 degrees Celsius on Sunday, the IMD said.
The relative humidity in the capital was recorded at 43 per cent at 8.30 am.
The air quality was 'poor' at 9 am, with an Air Quality Index (AQI) reading of 223, Central Pollution Control Board (CPCB) data showed.
According to the CPCB, an AQI between zero and 50 is considered 'good', 51 and 100 'satisfactory', 101 and 200 'moderate', 201 and 300 'poor', 301 and 400 'very poor', and 401 and 500 'severe'.
