In a recent development, Jack Ma, the founder of Alibaba Group has been left out of the list of Chinese entrepreneurial leaders which was published by Shanghai Security News, a state paper.
An article published on the front page did not have Jack Ma’s name in it while Ren Zhengfei, CEO of Huawei Technologies, BYD’s Wang Chuanfu and Lei Jun of Xiaomi Corp were praised for their efforts in the industry.
The beef between Jack Ma and the Chinese authorities started in October when the founder of Ali Baba commented on China’s regulatory system. Soon after his speech, Ant Groups IPO worth $37 billion was suspended just days before it had to happen.
Since then, Alibaba has been in hot waters as the authorities launched an investigation regarding the company.
Three weeks back, Ma made his first public appearance after a period of three months. Before that he was last seen in November just before Chinese government’s crackdown on his tech empire.
Ma was seen addressing rural teachers as part of his charity organisation. The company still hasn’t commented on this development.