He has now resurfaced again, and was seen in Hong Kong, meeting with financial executives, per a FridayThe tech tycoon has also been making regular visits to the US and Israel, the report further said. Ma would be giving up control of his company. That's in order to prevent any one shareholder from having a controlling vote over the company, Ant Group said. has kept a low profile since 2020, after he gave a speech criticizing China's financial regulation system.
With his company just days away from being listed on the stock market for a whopping $37 billion deal, heThe speech angered Chinese authorities, brought scrutiny to his company and eventually led to a wide regulatory crackdown on Chinese tech companies. Once China's richest man with a net worth of $61 billion in October 2020, his wealth took a plunge after the clampdown on tech companies.
Representatives for the Jack Ma Foundation did not immediately respond to Insider's request for comment.Subscribe to push notifications