The businessman is still in the “top ten” of billionaires in China, although he is distanced from the Beijing authorities. He is a visiting professor at the University of Tokyo.
Jack Ma, the creator of Alibaba, went from being the wealthiest businessman in China to disappearing from public life. At 59 years old, he is still in the ‘top ten’ of billionaires in China, but his fortune fell an additional 6% in 2023, due to the drop in value of Ant Group.
Ma has not only ceased to be the richest man in China, but has also disappeared from public life, which leads to the certainty of a controversial decline, after having been on the technological podium of the great power.
The beginning of the end occurred after the fortune of the founder of the enormous e-commerce Alibaba plummeted more than 60% since 2020, going from $58.8 billion to $23.4 billion, according to the “list of Hurun millionaires”, considered the Chinese equivalent of the American magazine Forbes. The businessman, who became the wealthiest man in China, He left public life in 2020 after criticizing the country’s financial control systems, as Chinese regulators suspended the IPO of Ant Group, Alibaba’s fintech, which was set to become the largest public offering in history.
Since then, Ma has maintained a super low profile, which contrasts with previous extravagances of great public notoriety, such as appearing on the stage of the annual Alibaba gala masked, on a high-powered motorcycle and dancing to the rhythm of Michael Jackson and then reveal your identity to those present.
Although he was once considered to be detained, the former president of Alibaba, who left office in 2019, has traveled abroad in recent years and returned to China in March 2023 after ceding control of Ant Group, which It was interpreted as a kind of reconciliation with Beijing, which put an end to a harsh regulatory campaign of more than two years against the digital sector.
During his estrangement, which continues to this day, Ma has joined Tokyo College, the University of Tokyo, as a visiting professor, providing advice and support on major research topics, as well as joint research in the areas of sustainable agriculture and food production. .
There are phrases that have been defining Ma’s thoughts. Some of her favorites are the following:
- “A real failure is to stop fighting.”
- “I have the principle that I apply: your attitude towards work and the decisions you make are more important than your ability.”
- “If your opponent is smaller or weaker than you, you still have to treat him as an equal. At the same time, if your opponent is bigger than you, you should not be afraid.”
- “Competition is like a game of chess. If you lose you can always play another round. Fighting is not necessary.”
Source: Ambito
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