Missing millionaire Jack Ma, on vacation in Spain

The Alibaba founder billionaire Jack Ma, who disappeared from the chinese public life Last year after criticizing the country’s financial control system, he is on vacation on the Spanish island of Ibiza, the Hong Kong newspaper ‘The Standard’ revealed today.

Ma flew to Spain in a private plane in the early morning of Saturday accompanied by other “billionaires and business partners”, after which embarked in Ibiza on his yacht ‘Zen’, valued at HK $ 1.6 billion ($ 205.69 million), according to the information.

Before flying to Spain, the tycoon spent several days in Hong Kong in a business and pleasure visitadded the source.

Ma, who managed to become the richest man in China after elevating his conglomerate to the category of giant, has been “missing” for months after last October. make a controversial speech in which he was critical of Beijing’s strategy of minimizing risks in the financial system.

Away from public life

Soon after, Chinese regulators suspended the IPO of Ant Group, Alibaba’s fintech, under more restrictive regulations for the sector.

After this episode, Ma stopped appearing in public until, at the end of January 2021, she recorded a speech to greet the winners of an award given by her foundation.

This “comeback” curbed speculation about his whereabouts after friction with Beijing, but since then the mogul has opted for a low profile with few public appearances.

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Beijing for years allowed the technology sector grew without too many regulations, But in 2020 a scrutiny campaign began that has resulted in sanctions for several companies in the industry.

Among them was Alibaba, which took a hefty antimonipolio fine worth 18.2 billion yuan ($ 2.818 billion), the largest of its kind in the country’s history.

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