People cross the street in Tokyo. Jack Ma has reportedly been living in the Japanese capital for nearly half a year. Photo: EPA-EFE
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https://scmp.com/news/asia/east-asia/article/3201532/jack-mas-tokyo-alibaba-founder-who-disappeared-public-view-spotted-japan East Asia
Jack Ma’s in Tokyo? Alibaba founder who disappeared from public view spotted in Japan
- Ma has reportedly been keeping a low profile since moving to the Japanese capital, socialising mainly within several private members’ clubs
- The Alibaba founder has been laying low since October 2020, after giving a speech criticising China’s financial regulatory system
Jack Ma pictured in 2019. Photo: AP
Once one of China’s richest businessmen, Alibaba Group founder Jack Ma mostly disappeared from public view two years ago after a run-in with the authorities.
He has now resurfaced in Tokyo, the Financial Times reported on Tuesday, citing people with direct knowledge of his whereabouts.
Ma, an outspoken teacher-turned-tech titan, was once a high-profile jet-setter who was the face of Chinese Big Tech. But he has been laying low since October 2020, after giving a speech criticising China’s financial regulatory system.
His words angered the Chinese authorities, prompting intense regulatory scrutiny on his businesses, and a wider crackdown on tech firms the country.
There has been intense speculation of Ma’s whereabouts since he vanished from the limelight.
One of the most recent sightings of the billionaire was in July this year, when he visited Wageningen University & Research, the Dutch institution announced on its website.
Even though he’s been living in Tokyo for nearly half a year, Ma has been keeping a low profile in the city and socialises mainly within several private members’ clubs, the FT said. He also spends his time in Japan visiting hot springs and the countryside with his family, according to the media outlet.
While based in Tokyo, Ma has been making regular trips to the United States and tech-hub Israel, according to the FT.
Like China, Japan had some of the world’s toughest border controls during the pandemic, but visa-free travel resumed last month. In contrast, Covid-19 lockdowns still persist in China, leading to rare protests against the authorities last weekend.
The spotlight on Ma’s activities coincided with Beijing’s push for “common prosperity” – a concept that the rich must share their wealth with the poor to create a more equal society. The drive that intensified from 2020 has hit big tech as well as property firms, which were forced to reduce their debt levels, as authorities sought to control high home prices.
This weighed on Chinese tech and property firms, sending the net worth of the country’s richest plunging. Ma, who at his peak was worth about US$61 billion in October 2020, is now worth about US$30.7 billion, according to the Bloomberg Billionaires Index.
Ma stepped down as the chairman of Alibaba in 2019. He still sits on the board of the Jack Ma foundation, which he founded.
The foundation did not respond immediately to a request for comment.
Alibaba is the owner of the South China Morning Post.
Read the original article on Business Insider