Whenever someone refers to China’s Alibaba.com or the Alibaba Group, the name of its co-founder and former Chief Executive Officer, Jack Ma, immediately springs to mind. However, if you have been following the news, then you would know that Jack Ma recently handed over control of the Alibaba Group, and he has since been globe-trotting in a move reminiscent of him before he stopped doing the same for the last few years. Regarding his departure as the CEO of Alibaba Group, it is believed that the main reason was his fallout with the Chinese officials regarding taxes and other things.
Alibaba Group CEO Jack Ma had a public fallout with the Chinese authorities after which he was also said to be missing and everyone feared the worst for Ma. However, he came into public domain after 6 months and was spotted last year in Thailand where he was staying. He also visited Singapore and other places in Southeast Asia. If reports are to be believed, Jack Ma is currently in Melbourne, Australia where he is all set to meet the Morley family. It is known that Jack Ma is very close to the Morley family as they were the ones who supported him while he had nothing and he also set up a university scholarship fund worth $20 million in the name of his mentor, Ken Morley’s name.
Talking about the difficulties faced by Jack Ma due to his fallout with Chinese officials, it is all-but-confirmed that the decision to leave the control of Alibaba Group was a difficult one for him. Still, the fact that he criticized the Chinese policies did not go well with the government, and it is said to be the reason behind his exit. It is already known that those who go against the Chinese government have not had a great future. To avoid any action on the ANT group from Chinese authorities, it looks like Jack Ma had to take this decision and we believe that it is the right one as well. Now that the control of ANT group is in someone else’s hands, it looks like the crackdown on Alibaba will be subsided.