Jack Ma disappearance prompts $497b loss for Alibaba in just one year

Discussion in 'Economics' started by ipatent, Oct 26, 2021.

  1. ipatent


    Jack Ma disappearance prompts $497b loss for Alibaba in just one year

    It has been exactly a year since Chinese businessman Jack Ma publicly criticised his communist government and since then he’s lost hundreds of billions of dollars of his vast fortune.

    Over the last 12 months, his business, Alibaba — pegged as China’s version of eBay, Amazon and PayPal all rolled into one — has lost around US$373 billion (A$497 billion).

    According to Bloomberg, Alibaba’s fall from grace is the single biggest financial loss a business has ever endured.

    On October 24 last year, Mr Ma made a now-infamous speech at a business summit where he went viral for condemning the Chinese Communist Party (CCP).

    “We shouldn’t use the way to manage a train station to regulate an airport,” Mr Ma said at the time. “We cannot regulate the future with yesterday’s means.”

    His remarks came hot on the heels of a government announcement over plans to increase regulation into its financial sectors, and was perceived as a criticism.

    The CCP’s wrath was swift and unforgiving. Mr Ma disappeared for months and Alibaba lost almost half its value in the space of a year.
  2. Ma forgot where he lived
    murray t turtle and jys78 like this.
  3. destriero


    BABA was a house of cards.
    jys78 likes this.
  4. Overnight


    Oh, this is a real easy one to analogize.

    Jack Ma is the sniveling bitch, and Vader is the CCP.

  5. excrypto


    havent we seen him since like a couple weeks ago and hes fine
  6. themickey


  7. d08


    Based on what?
    murray t turtle likes this.
  8. VicBee


    I wouldn't worry about BABA which is a real business making real money in a country of 1.2 billion people.
    I wouldn't worry about Jack Ma who has enough money stashed away to keep him in the world's top 100 richest people if he walked away from China.
  9. Raheel Shaikh

    Raheel Shaikh Sponsor

    Not only because of his disappearance Alibaba faced losses
    but in the past year India being amongst one of its larger consumer market banned imports of Chinese goods.
    murray t turtle likes this.
  10. d08


    Not just China. BABA has big subsidiaries elsewhere in the world and itself is a major player, especially in countries where the word Amazon still stands for rainforest.
    #10     Oct 27, 2021
    murray t turtle likes this.