I don’t think they did all that tbh
They probably nationalized some of his assets and made him attend like a presentation explaining why he was wrong.
I’m pretty sure Jack Ma is a party member anyway.
They probably nationalized some of his assets and made him attend like a presentation explaining why he was wrong.
Him being a Party member is completely meaningless if you’re talking about his political views or something, but the OOP is ludicrously exaggerating what was done with Ma
while excluding the rampant corruption and financial crimes he oversaw.(see below)excluding the rampant corruption and financial crimes he oversaw.
Sorry, what is this referring to? To my knowledge, his big transgression was trying to popularize some kind of banking and investment tool, which was illegal because of state control of finance.
His company was involved in a bribery scandal involving Zhou Jiangyong, one of China’s biggest corruption scandals, “Ant Group” owned by Jack Ma was the primary beneficiary of the corruption done by Zhou. They’ve also been fined billions for various other financial crimes, including basically not complying with any financial regulations and scam loans to consumers, and it hasn’t stopped them.
I don’t know if that’s what purpleworm is referring to, there’s plenty of other shady shit to pick from. Jack Ma is a billionaire piece of shit (Tautological as that is) with all that entails.
My characterization was hasty, but he did get in trouble for both things that I mentioned, albeit with “rampant” only applying some of the time.
Here’s a highly hostile article discussing the corruption aspect:
Here are some other crimes, some of which are financial and some of which are not:
I guess “failure to meet anti-money-laundering obligations” is adjacent but not itself a financial crime. Here’s an article that mentions what you mentioned, along with mentioning “high-risk lending activities, with leverage ratios of 50-60 times, raised serious concerns among regulators”:
There are a lot of different charges, which I guess is kind of what you’d expect when a massive company that the CPC had previously turned a blind eye to suddenly falls under intense scrutiny.
I think if you are involved in multiple corruption scandals and one of them is bad enough that a person involved is sentenced to death (Later changed to life imprisonment) rampant is a fine descriptor.
He was also going wild over 9-9-6 so that probably pissed a fuckton of people off.
“Stripped of his wealth” hey google what’s jack ma’s net worth? Huh, over 26 billion??
Like someone told me about another billionaire, elsewhere: known wealth.
Maybe china should be more unsafe
Imagine if we sent Elon to re-education and he came out of it some chill dude into cycling.
He becomes a train guy for peak irony
It takes constant ket to resist the inexorable course of vehicle carcination
He should thank the stars he got Puyi’d instead of Romanov’d
“chinese luigi” sounds like a cumtown bit
I do personally think of luigi as the america
The homemade nature of weapons, both succeeded, both taken alive with reassuringly broad support.
I believe the user meant Luigi from Mario, but he’s Chinese, which is very much a cumtown-style bit.
I deeply wish we lived in a world where tweets like this (of blatant lies btw) didn’t routinely amass hundreds of thousands of likes
i wish we lived in a world where every country did that to billionaires
It’s like the idea of consequences is anathema they can’t even contemplate it. They can’t even imagine a world where billionaires get punished.
I don’t know what to tell these people. Becoming a billionaire is an immoral action. You cannot amass that wealth in a lifetime of labor. You need to manipulate, exploit, and take advantage of others to get that. There is no ethical billionaire. Motherfuckers play fast and loose with the lives, equity, and by extension bodily and spiritual health of like tens and hundreds of thousands of people in their companies, millions and millions more in their families and communities. Motherfuckers want all the benefit and none of the responsibility of living in a society. They are anti social.
Motherfuckers should be grateful we let them on our streets.
The fact that everyone knows the state has him on a short leash is probably a big reason he’s safe from getting luigied on the streets.
It’s funny, there are a ton of articles in the western press about how dangerous it is to be a Chinese billionaire, but literally all of the danger is from the government uncovering laws you broke and punishing you.
“It’s so dangerous to be a Chinese billionaire” No one is forcing you to remain a billionaire, nor Chinese for that matter. It must not be that bad.
Free education AND a bike!?tfw you’ll never see Chris Matthews executed in Central Park
no more half measures walter
Imagine looking at what Elon did with DOGE and still thinking China is ebul for knocking a billionaire down a few pegs.
“All he did was criticise the government! Just ignore all the charges of corruption!”
It’s so fucking easy to be a China hater, just ignore reality, say they lock people up for no reason, fly very close to the sun talking about “Asian cultures” and just watch the fed money come pouring in.
How much of that reply is even true? This seems like total speculation to me.
Not even apeculation, just completely wrong and made up
Since then, Ma has kept a very low profile. In recent years, he has reportedly spent time in Japan, home to his friend and Alibaba investor, SoftBank (SFTBF) CEO Masa Son, and in Hong Kong. He has also started a new gig as a visiting professor at a Tokyo university, and spent more time on philanthropy.
“stripped of his wealth” and “cede his assets to the state” are very funny ways of saying “was fined after a lengthy investigation into his company’s involvement in bribery, money laundering, and violating other business rules.” He’s still the owner of Alibaba and a billionaire.
There was a three-month period where he went media silent during the investigation, and western outlets like to paint this as though he was censured by the red guards during the cultural revolution, but there’s no reason to believe he was doing anything but playing it safe to avoid pissing off the investigators.
Xi did not do that, but he should have
