• Economy The disappearance since October of Jack Ma, founder of Alibaba, triggers rumors about his whereabouts

The billionaire founder of

Alibaba

,

Jack Ma

, who disappeared from Chinese public life last year after criticizing the country's financial control system, is on vacation on the island of

Ibiza

, has revealed the Hong Kong newspaper

The Standard

.

Ma flew to Spain in a private plane in the early hours of Saturday accompanied by other "billionaires and business partners", after which he embarked in

Ibiza

on his yacht

Zen

, valued at 1.6 billion Hong Kong dollars (

205.69 million dollars

), according to the information.

Before flying to

Ibiza

, the tycoon spent several days in Hong Kong on a business and pleasure visit, the source added.

Ma, who managed to become the richest man in China after elevating his conglomerate to the category of giant, has been "missing" for months after he delivered a controversial speech in October last year in which he was critical of

Beijing's

strategy

.

to minimize risks in the financial system.

Shortly thereafter, Chinese regulators suspended the IPO Ant Group, the tecnofinanciera ( 'Fintech') of

Alibaba

, to the under more restrictive rules for the sector.

After this episode,

Ma

stopped appearing in public until, at the end of January 2021, she recorded a speech to greet the winners of an award given by her foundation.

This "comeback" curbed speculation about his whereabouts after friction with

Beijing

, but since then the mogul has opted for a low profile with few public appearances.

Beijing

allowed the technology sector to grow without too many regulations for years, but in 2020 it began a scrutiny campaign that has resulted in sanctions for several companies in the field.

Among them was

Alibaba

, which took a hefty 18.2 billion yuan (

$ 2.818 billion

)

antitrust fine

, the largest of its kind in the country's history.

According to the criteria of The Trust Project

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