Background
Who does not know about Alibaba and its creator Jack Ma.Recently, the entrepreneur went missing from the public eye for months.
Speculations were raised if the Chinese government had somethingto do with Jack Ma’s disappearance.
Eventually, a consensus was made that the companies being ownedand/or promoted by Jack Ma had the potential to blossom into digital banks.
A rationale was arrived among the thinkers all over theworld that the Chinese government would not allow any entity to compete withits stranglehold.
Further, IPOs (Initial Public Offers) of his companies wasdelayed on one pretext or another.
The consequence
All these actions have taken their toll on the man’s wealth.
Jack Ma lost the title as the richest man of China all thewhile his peers’ progress continued without any adverse conditions which JackMa had to face.
The list is prepared by Hurun Global Rich List and Jack Mawas at the top from his country for two consecutive years 2019 and 2020.
Currently, the man is in fourth place.
The entrepreneurs that are ahead him are Zhong Shanshan, PonyMa, and Collin Huang.
Hurun Global Rich List confirms the suspicions
The report too confirmed what the media had been inferring frommonths claiming Jack Ma lost his wealth and the position as the number one wealthiestman in China "after China's regulators reined in Ant Group and Alibaba onanti-trust issues."
What initiated this game of chase?
On October 23, 2020 Jack Ma made the mistake of criticisinghis government’s regulatory system.
In the opinion of this author, every educated and internationally-awareindividual knows the temperament of the government and the nation of China.
Though the same has enabled China to be a mass producer atexceedingly cheap prices, but this also entails a certain level of servitudeand lack of freedom and autonomy.
Jack Ma’s wealth could have fooled him into thinking thathis businesses, assets, wealth, and the resultant clout makes him immune tocounter-action from the Chinese government.
In other words, the Chinese government is not to be meddledwith, whether the poke is domestic or foreign.