Jack Ma is moving to Tokyo.
The once high-profile Ma has disappeared from the public eye.
Ma spends most of his time in private clubs in Japan.
Two years ago, Jack Ma disappeared from public view after a run-in with the authorities. According to the Financial Times, he has reappeared in Tokyo.
The face of China's Big Tech was once a high-profile jet-setting teacher named Ma. He gave a speech about China's financial regulatory system.
His words angered the Chinese authorities and caused intense regulatory scrutiny on his businesses.
Since Ma disappeared, there has been a lot of speculation about his location.
One of the most recent times that the billionaire was seen was in July of this year, when he was at Wageningen University and Research.
Ma has been living in Tokyo for nearly half a year and has kept a low profile in the city. He travels to Japan to visit hot springs and ski resorts with his family.
Ma has been making frequent trips to the US and Israel while in Tokyo.
Visa-free travel resumed in Japan last month, despite having some of the world's toughest border controls. Protests against the authorities took place in China last weekend.
Beijing wants the rich to share their wealth with the poor in order 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
The net worth of China's richest people fell because of this. Ma, who at his peak was worth about $60 billion, is now worth about $30.7 billion. The share price of the Chinese company has fallen from its peak.
Ma stepped down as the leader of the company. He is still on the board of the foundation.
Insider asked the foundation for comment, but they didn't reply immediately.
Business Insider has an article on it.
All Rights Reserved © 2024
