The Financial Times reported Tuesday that Jack Ma, one of China's wealthiest people, is now living in Japan and has largely faded from the public eye.
Jack Ma used to be the wealthiest man in China.
Sources told the Financial Times that Ma and his family have resided in Tokyo.
According to the newspaper, the 58-year-old has made several trips to Israel and the US in recent months.
Ma headed the financial technology company, which was set to go public in 2020 in the largest initial public offering ever before Chinese authorities pulled the plug on the IPO after Ma criticized the authoritarian government.
The disappearance of Ma from the public eye from October 2020 to early 2021.
Ma is the 67th richest person in the world and the 6th wealthiest Chinese national. The value of Ma's fortune peaked in October 2020 when the value of the shares of the Chinese company rose to all-time highs. Ma was once China's wealthiest man and is now held by a beverage mogul.
Ma, one of the most prominent industrialists in communist China, fell from grace as a result of the Chinese President's "zero- Covid" policy. The Wall Street Journal reported in July that Ma was going to give up control of the group to someone else.
Andrew Nathan, a Chinese policy professor at Columbia University, told Forbes that Ma had gotten too big for his britches. The Chinese Communist Party isasserting its absolute power, according to Nathan.
Jack Ma is in Tokyo during China's tech purge.
Jack Ma is the 5th richest person in China despite a drop in wealth.
The control of the ant group is said to be in the hands of jack ma.
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