Reclusive Jack Ma, Where Has He Been?..."Hiding in Tokyo, Japan for Half a Year"

Jack Ma Hides with Family in Tokyo
Appears Only at Small Social Gatherings
Aims to Avoid Quarantine Measures and Political Pressure

Chairman Ma Yun, founder of Alibaba. [Photo by Yonhap News]

[Asia Economy Reporter Lee Ji-eun] Jack Ma, the founder of e-commerce company Alibaba, is reportedly in seclusion in Tokyo, Japan, to avoid sanctions from Chinese authorities. Since harshly criticizing financial regulators in 2020, Ma has ceased public activities amid increasing government pressure on his group.

On the 29th (local time), major foreign media reported that Ma has been hiding in Tokyo with his family for the past six months. According to reports, Ma is spending time collecting artworks at a resort on the outskirts of Tokyo, accompanied by a personal chef and bodyguards.

Ma is known to appear only at small social gatherings attended by wealthy Chinese. An anonymous source told major foreign media, "Ma is attending social gatherings based in Tokyo's Ginza district and the Marunouchi financial district, which is a business area," adding, "These gatherings serve as social venues for wealthy Chinese who have settled in or are long-term residents of Tokyo."

Ma has been in seclusion since attending the Shanghai Forum in October 2020. At the forum, he strongly criticized Chinese financial authorities and the financial sector, saying, "China's banks operate like pawnshops."

Following his remarks, the initial public offering (IPO) of Alibaba's fintech affiliate Ant Group was abruptly canceled two days before its scheduled listing. In April last year, Alibaba was fined 18.228 billion yuan (approximately 3.12 trillion KRW) for violating antitrust laws. Analysts believe that Chinese authorities viewed Ma's comments as a challenge to the Chinese Communist Party and imposed sanctions accordingly. After falling out of favor with the authorities, rumors circulated that Ma was banned from leaving the country, but he was spotted in Hong Kong and Spain starting October last year.

Ma's choice to stay abroad appears largely motivated by political pressure and avoidance of the authorities' strict COVID-19 prevention policies. Major foreign media stated, "Ma's departure from China coincided with the period when President Xi Jinping strengthened the zero-COVID policy," and added, "Since his relationship with Chinese authorities deteriorated, Ma has been trying to avoid troublesome political issues."