Chinese billionaire Jack Ma disappears from reality show after controversial speech – world news

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#One of #China’s richest men has disappeared from the talent show he created.
#Jack #Ma, who is said to be worth just under $ 50 billion (£ 36 billion), was replaced as judge in the #Africa’s #Business #Heroes finale.

The photo of the #Alibaba #Group co-founder was removed from the website and he was banned from a promotional video.

#Ma’s absence from the final, which took place in #November, came shortly after criticizing #Chinese regulators and its state-owned banks, the #Financial #Times reported.

A $ 37 billion public offering from his company #Ant #Group was suspended after his speech.

#He has not been seen in public since.



#Ma on stage with actor #Nicole #Kidman

#An #Alibaba spokesperson said: “##Due to a scheduling conflict, #Mr. #Ma could no longer be part of the #Africa #Business #Heroes final jury earlier this year (2020).”

#In her speech, #Ma sharply criticized the “pawnshop mentality” of #Chinese banks and accused them of slowing down innovation.

#When #Chinese #President #Xi #Jinping heard of the comments, he personally ordered the public offering to be suspended, according to the #Wall #Street #Journal.

#Days later, #China unveiled new antitrust rules that dramatically devalued the company, before regulators conducted an antitrust investigation into #Ant #Group.



#Ma criticized #Chinese banks in a speech last year

#Lucy #Peng, an executive at #Alibaba, replaced #Ma in the finale, which is now due to air in the spring.

A contestant for the show said, “There was something going on in #China with #Jack #Ma or something, so (#Lucy) came along as well. ”

#In addition to being the second richest person in #China, #Ma is one of the country’s few international icons.

#Last year, he donated tens of millions of masks worldwide and 2,000 ventilators to hospitals in #New #York #City.

#He has been applauded online for interviews in which he is fluent in #English and for indulging in the videos.

#On one momentous occasion, he was filmed dressed as #Michael #Jackson and performed a six minute dance routine.

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