Ma Yun, founder and chairman of Alibaba Group. Photo = REUTERS
Ma Yun, founder of Alibaba and the largest shareholder of Ant Group under pressure from the Chinese government(Photo)The Financial Times (FT) reported on the 2nd that he was withdrawn from the TV program he made.
Initially, Ma Yun was scheduled to appear as a judge in the finals of the TV program’Business Heroes of Africa’. It is a contest program in which novice entrepreneurs directly present their business plans to Ma and the participants compete with each other. The winner receives a huge prize money from the Ma-Win Foundation.
FT reported that Ma Yun was recently deleted from the program’s website and promotional video. Alibaba also officially confirmed that “The founder of Ma Yun is no longer able to participate as a judge in the final due to the problem of scheduling the coordination.”
Ma Yun delivered a speech at the Shanghai Bund Financial Summit on October 24 last year, criticizing China’s financial system. “The state-owned bank couldn’t get out of the pawn shop business practices,” and “the problem of the Chinese financial system is a lack of function.”
Since then, the authorities have stepped up pressure on the Alibaba Group. The listing of Ant Group, which was scheduled for November 5, was postponed indefinitely and requested business reorganization, such as the establishment of a financial holding company. Since then, FT reported that Ma’s appearance has not been seen on the official stand.
The final of “Africa’s Business Heroes” was filmed in November last year, right after Ma’s controversial speech. One participant said, “When I went up to the finals, the judges were changed from Ma Win to Lucy Feng, co-founder of Alibaba.” The filming schedule for the finals has been postponed to this spring.
Last August was the last time Ma Win officially commented on the contest. On Twitter, he congratulated 20 entrepreneurs who joined the contest and said, “I want to meet them soon.”
Reporter Park Sang-yong [email protected]
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