Alibaba Stock Slips as CEO Jack Ma Feared Missing
Reports have emerged in recent days that Jack Ma, the billionaire entrepreneur and enigmatic co-founder and CEO of Alibaba Group (NYSE: BABA), hasn't been seen in public and hasn't posted in social media since late October. Ma also failed to make an anticipated appearance as a judge on a talent show he created, Africa's Business Heroes, a reality program featuring African entrepreneurs competing for $1.5 million in prize money.
Perhaps not coincidentally, the timing of his reported absence coincides with the planned initial public offering (IPO) of Ant Group, Alibaba's financial technology (fintech) arm. The digital finance company was set to raise a record $37 billion before it was unceremoniously pulled after Ma made a speech critical of the China's regulation of the banking industry.
Co-founder and CEO Jack Ma at Alibaba's 20th anniversary event. Image source: Alibaba.
Source Fool.com
