It has been revealed that Jack Ma, the founder of Alibaba, who disappeared into obscurity two years ago after slamming the Beijing administration, lives in Tokyo.
The Financial Times suggested that Jack Ma, the founder of Alibaba and once the wealthiest business leader in China, has lived in Tokyo for about six months.
According to people with direct knowledge of the whereabouts of the 58-year-old ‘Father of Money’, Ma, who spent months with his family in Japan, stayed at spas and ski resorts in the countryside outside Tokyo. Ma also made regular trips to the United States and Israel.
China accuses banks of having a pawnshop mentality
Ma has largely disappeared from the public eye two years ago, when he criticized Chinese regulators, accusing state banks of having a “pawnshop mentality” and calling for bold new players to lend loans to the collateral poor.
Since then, both companies he founded, Ant and e-commerce group Alibaba, have faced a number of regulatory hurdles. Chinese regulators have canceled Ant’s record-breaking initial public offering of $37 billion. It fined Alibaba a record $2.8 billion last year for antitrust violations.