Chinese Government is a true representation of how a government eats its own people in reference to how they have brought down Jack Ma Inc.
Jack Ma’s business empire has been amputated, forced to operate without finesse by the Chinese government. Right now, the Ma empire is worth half what it was 9 months ago.
But the Chinese Government is not yet done with Jack Ma. It is now doling out some of the most lucrative slices of Ma’s business to new “partners” of its choosing, including one of the most corrupt and financially shaky companies in all of China.
One year ago, Ma was the richest man in China. He was the creator of Alibaba – China’s largest tech company – and The Ant Group, the largest Fintech company in the world. His corporate empire had reached private-sector superpower status, on a par with the Western FANG-giants. Alibaba alone was worth more than any U.S. company except for Apple, Amazon, and Google.
Jack Ma being made to lose his fortune by China's Government is so painful.
You will marveled when you hear his story.
He is living proof that failing doesn't make you a failure.pic.twitter.com/DzaVeHNJE1
— World Publicist (@IsimaOdeh) June 9, 2021
Ma was also a worldwide celebrity – the most famous living Chinese person. According to polls, he was more well-known outside China than Xi Jinping. Jack Ma was Jeff Bezos, Elon Musk and Bill Gates all rolled into one. He was the front-man for the new China:
But everything has taken a very big negative deep.
According to Forbes, Ma’s assets have been stripped, shorn, and degraded. The last-minute quashing of the Ant Group’s Initial Public Offering was the opening shot. The offering would have set a world record. (In fact, Alibaba’s IPO in 2014 had been the largest ever at that time. Ant’s was to have surpassed it by 40%.)
The government also had its eye on one of Ant’s most valuable assets – its data, derived from billions of consumer transactions it processes.
Ant’s Group’s money market fund was perhaps its most amazing and explosive success story. In just four years, the fund became (briefly) the world’s largest, surpassing the American establishment giants like Fidelity and JP Morgan and “shocking banking executives around the world.
The Chinese government took note. Ant’s business was thrown into reverse, shrinking 18% in the first quarter of this year, and down almost 50% from its peak.
They have continued to attack everything associated with Jack Ma until his fortunes have shrunk. He is no longer a powerful man he was in China and the rest of the world.
His philanthropic acts have been reduced due to sabotage by his own government. The government has resolved to devour his business empire until it starts to crawl.