The story of Alibaba.com and Jack Ma.

💬 Topics:
- Jack Ma criticizes Chinese regulators;
- Ant Group IPO abruptly canceled;
- Alibaba punished to set example;
- Jack Ma disappears from public;
- Government reclaims corporate control;
- Party dominance over business.

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Jack Ma, founder of Alibaba and China's richest man, saw his empire crumble after a 2020 speech criticizing Chinese regulators and state banks. The government canceled Ant Group's $37 billion IPO, fined Alibaba $2.8 billion, and Ma disappeared for three months. Upon returning, he stepped down from leadership roles and lost half his fortune ($36 billion). The incident demonstrates how China's government maintains control over tech billionaires, regardless of their wealth or global influence.

The complete disappearance of a tech billionaire...

<p>at least the nation will not be controlled by tech giants like US</p>
